News

Beco Capital closes second fund with $100m

Start-upDubai-based venture capital (VC) firm Beco Capital has raised $100 million after closing its second fund. The figure is in excess of the fund’s initial $80 million target, according to the company’s statement. Backers in Beco Fund II include Dubai-based Rimco Investment, the World Bank-backed International Financial Corporation and Al Waha Venture Capital Fund of Funds, an arm of the Bahrain sovereign wealth fund.  Beco, founded in 2012, invests in early stage startups in the region, three of which are ride-hailing firm Careem, UAE-based website Property Finder and bus-hailing app Swvl. According to its statement, its investments have collectively raised over $1 billion in follow-on capital and created more than 9,000 jobs in the region. Its first fund has seen four exits so far, including Uber’s acquisition of Careem and Cisco’s purchase of Voicea. ©2019 funds global mena

Executive Interviews

INTERVIEW: ‘Financing is the blood of Iran’s economy’

Amid a fresh wave of American sanctions, Romil Patel spoke to Meysam Hamedi, director of financial markets and instruments at Iran’s Securities & Exchange Organization (SEO).

INTERVIEW: Totally mega

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...

Roundtables

South Africa asset management roundtable: Global rebound on ice

Experts discuss the investment implications of the coronavirus pandemic, a delayed rebound in global growth and dealing with South Africa’s energy issues head on. Chaired by Romil Patel in Cape Town.

South African roundtable: Taking the bull by the horns

Our panel discusses Chinese investment in Africa, financial institutions’ contribution to economic sustainability and regulatory concerns. Chaired by Romil Patel in Cape Town.