News

Venture capital firm MEVP gains licence in Dubai

Approved1The Dubai Financial Services Authority (DFSA) has granted an asset management licence to Middle East Venture Partners (MEVP) Capital making it one of the first authorised venture capital asset managers in the UAE. The UAE government announced a new regulatory framework for venture capital firms last year amid huge growth in the sector. Venture capitalists have become an important source of capital for startups but have been hitherto self-regulated. The new framework places more reporting and operating principles on these firms to improve governance. The DFSA Category 3 licence establishes a framework for improved risk management, reporting and full know-your-client and anti-money laundering compliance, according to the authority. The licence award comes shortly after MEVP launched its third Mena venture capital fund, the Middle East Venture Fund III which will invest in series B and growth-stage tech companies in the region. ©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.