News

BDB launches VC fund of funds

Venture_capitalBahrain Development Bank (BDB) has launched what it claims is the region’s first active venture capital (VC) fund of funds. The Al Waha Fund of Funds was launched following the closure of a $100 million fundraising round. It will target investments in technology-driven startups in Bahrain and across the region through VC funds based in Bahrain and any new funds it can attract to the region. Following the first meeting of the limited partners advisory committee, which includes Mumtalakat, National Bank of Bahrain, Batelco Group, Tamkeen and BDB, $35 million will be invested in a series of venture funds. “One of the key constraints on the development of the startup and technology ecosystem in the region is lack of access to capital,” said Sheikh Mohammed bin Essa Al Khalifa, chairman, Al Waha Fund of Funds Advisory Committee. “This fund can help to make a significant difference to that challenge, enabling entrepreneurs to realise the potential of their ideas.” ©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.

Roundtables

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.

SOUTH AFRICA ROUNDTABLE: Airline syndrome

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.