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: 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.

EXECUTIVE INTERVIEW: A natural interest in the topic

Mar 08, 2017

Since 2016, Guillermo Ortiz has been a chairman of Latin America’s BTG Pactual. The former central banker of Mexico talks to Nick Fitzpatrick.

Roundtables

ROUNDTABLE: Charting the pace of reform

Nov 23, 2017

Saudi Arabian index inclusion, the onset of taxes and the Dana Gas controversy were among the issues discussed by our cross-industry panel. Chaired by George Mitton in Dubai.

SOUTH AFRICAN ROUNDTABLE: Spirit of Ubuntu

Mar 08, 2017

The move to a three-day settlement cycle, the appearance of new stock exchanges, and recent rules on hedge funds were discussed by our panel in Cape Town. Chaired by George Mitton.