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Golden Gate Ventures expands global reach: Launches MENA office in Saudi Arabia
Startup News FYI
ยท
1y ago
Medial
Golden Gate Ventures, a prominent venture capital fund, is expanding its global reach by launching its inaugural Middle East and North Africa (MENA) office in Saudi Arabia. This move aims to strengthen connections between Singapore and the MENA region and accelerate the growth of the startup ecosystem in MENA. Golden Gate Ventures has already been actively engaged in the region, collaborating with startup ecosystem partners across the Gulf Cooperation Council (GCC). The firm is providing mentorship to over 50 founders from MENA, helping them navigate the global startup landscape.
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MENA Digest: WheeKeep, Airwater, Lune raise funding; Beco Capital gets an exit
VCCircle
ยท
1y ago
Medial
During the week, several UAE and Saudi Arabia-based tech startups raised funding. Saudi logistics startup WheeKeep secured $8 million in Series A funding, UAE-based data analytics startup Lune raised $1.5 million in a seed round, proptech portal Property Finder raised $90 million in debt financing, electronics marketplace Revent secured $900,000 in pre-seed funding, and air-to-water technology company Airwater raised funding from Tau Capital. Additionally, investment firm Golden Gate Ventures launched a $100 million MENA fund, and Egypt-based firm Glint closed the first round of its $3 million venture fund.
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Oman investor comes onboard for Singapore VC Golden Gate Venturesโ debut MENA fund
VCCircle
ยท
4m ago
Medial
Golden Gate Ventures, a Singapore-based venture capital firm, has expanded to the Middle East and North Africa (MENA) region with a new $100-million fund. Omanโs sovereign investor has joined as a limited partner. The fund, headquartered in Doha, marks Golden Gate Ventures' first international VC initiative aimed at supporting early-stage startups in the MENA region. The collaboration underscores the growing investment interest in the vibrant MENA startup ecosystem.
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Singapore VC Golden Gate Ventures sets timeline for close of MENA fund
VCCircle
ยท
11m ago
Medial
Singapore-based venture capital firm Golden Gate Ventures is planning to close its MENA-focused fund by the first quarter of 2025. The firm expanded to the Middle East and North Africa region earlier this year with a target of raising $100 million. This timeline indicates that Golden Gate Ventures is making progress towards reaching its fundraising goals.
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LTIMindtree expands in Saudi Arabia, employee count increases in Middle East
Economic Times
ยท
1y ago
Medial
Indian IT company LTIMindtree has opened its regional headquarters in Riyadh, Saudi Arabia, as part of its expansion plan in the Middle East. This follows its acquisition of a 51% stake in a joint venture with Global Digital Integrated Solutions Company, a subsidiary of Saudi Aramco, to offer IT services in the MENA region. LTIMindtree's employee count in the Middle East increased from 293 to 367 in FY24, and the opening of the new office will enable the company to support and direct its operations in the region.
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Singapore VC firm Golden Gate Ventures rolls out $100-mn MENA fund
VCCircle
ยท
1y ago
Medial
Singapore-based venture capital firm, Golden Gate Ventures, has introduced a $100 million investment fund aimed at the Middle East and North Africa (MENA) region. The firm, which already manages assets worth $250 million across three continents, has secured $20 million in commitments for the MENA fund. The new fund will focus on supporting early-stage startups in the rapidly growing MENA market.
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Spare raises $3 Mn Investment to lead Open Banking Innovation in the Middle East
Startup News FYI
ยท
1y ago
Medial
Bahrain-based open banking services provider, Spare, has secured a $3 million funding round led by Vision Ventures. Other participants included Waโed Ventures, Seedra Ventures, 500 Global, and angel investors. Spare offers cutting-edge Open Banking solutions in Saudi Arabia, Kuwait, and Bahrain, aiming to streamline financial services innovation in the region. The MENA region shows potential for open banking growth, with evolving regulations, increasing fintech presence, and digital transformation across industries. Spare's funding will be used for talent acquisition, marketing, and operations in Saudi Arabia.
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Golden Gate Ventures' Lints on portfolio mix for first MENA fund, LPs and more
VCCircle
ยท
10m ago
Medial
Golden Gate Ventures, a Singapore-based venture capital firm, is seeking investment opportunities in the Middle East and North Africa (MENA) region through its $100 million fund. The firm is interested in sectors such as B2B SaaS, fintech, healthtech, deeptech, edtech, alternative energy, and green technology. They are actively scouting for startups in these areas to diversify their portfolio.
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Saudi Arabia tops 2023 MENA venture capital rankings
Startup News FYI
ยท
1y ago
Medial
Saudi Arabia has emerged as the top destination for venture capital (VC) funding in the MENA region in 2023, capturing 52% of the total capital deployed. This reflects the economic development taking place in the country as part of Saudi Vision 2030. The funding deployed into Saudi Arabian startups increased by 33% in 2023, solidifying the Kingdom's position as the largest economy in the MENA region and a global player in the G20 and BRICS group. The achievement is attributed to the government's initiatives and the emergence of active investors and entrepreneurs in the country.
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MENA Digest: Saudi Arabia's Mush Social, UAE's Brand IO raise early-stage funds
VCCircle
ยท
8m ago
Medial
This week in the MENA region, early-stage venture capital deals were prominent in startup investment activity. Saudi Arabian social media startup Mush Social and UAE-based branding startup Brand IO raised pre-seed and seed funding respectively. Proptech company Ayen based in Saudi Arabia also announced an acquisition.
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Saudi VC SEEDRA onboards sovereign investor as LP for second fund
VCCircle
ยท
7m ago
Medial
Saudi venture capital firm SEEDRA Ventures has partnered with the Saudi Arabia Public Investment Fund-owned Jada Fund-of-Funds for its second fund. SEEDRA Ventures supports early-stage companies and currently manages a portfolio of 26 startups. This collaboration will provide SEEDRA Ventures with further financial backing and enhance its ability to nurture and invest in promising startups in Saudi Arabia and beyond.
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