Arab Bank in $30m fintech fund launch

FintechJordan’s Arab Bank is to launch a £30 million venture fund targeting financial technology firms, according to its chief operating officer. The fund, which will be fully owned by the bank, will be registered in the Cayman Islands and be ready to launch before the end of October, said Eric Modave, as reported by Zawya. “The typical ticket size is $1-3 million and it has an investment period of three to four years maximum, but if we find good opportunities quicker, we will fill the book quicker,” he reportedly said. The fund will focus on fintech firms that are relevant for the bank and which deploy technology such as blockchain, robotics, machine learning, artificial intelligence and application programming interfaces. “We will look for companies that will address a problem statement at the bank. We're not just doing this for experimenting,” he said. ©2018 funds global mena

Executive Interviews

INTERVIEW: Totally mega

Jun 13, 2018

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

INTERVIEW: Protecting the investment

Nov 23, 2017

Rasmala’s trade finance fund recently passed $100 million in assets. Doug Bitcon, head of credit strategies, explains why he has to be hands-on.


MENA ROUNDTABLE: ‘The story is about reforms’

Jun 13, 2018

Our cross-industry panel discuss the positive backdrop in Egypt, the Dana Gas controversy and the potential index upgrades of Saudi Arabia and Kuwait. Chaired by George Mitton in Dubai.


Jun 13, 2018

Our panellists tell us that instead of launching competing national projects, African countries should work together for the sake of a bigger capital market. Chaired by George Mitton in Cape Town.