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News on Medial
Abu Dhabi's Shorooq onboards new Korean investor as limited partner
VCCircle
·
8m ago
Medial
Abu Dhabi investment firm Shorooq Partners has secured a new South Korean investor as a limited partner for its investment vehicles. Backed by UAE's Mubadala and Korean Venture Investment Corporation, Shorooq Partners aims to strengthen its position in the market with this new partnership.
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UAE-based Aliph Capital makes second deployment from $250-mn vehicle
VCCircle
·
8m ago
Medial
UAE-based private equity firm, Aliph Capital, has made its second investment from its $250 million fund. The firm recently announced Saudi Venture Capital (SVC) as a limited partner for its Aliph Fund I. Backed by Abu Dhabi's sovereign wealth fund, ADQ, Aliph Capital focuses on mid-market investments.
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Somerset Indus Capital onboards another offshore LP for third India fund
VCCircle
·
5m ago
Medial
Somerset Indus Capital Partners, a private equity firm specializing in healthcare investments, has secured a new offshore limited partner for its third investment fund. This development follows the firm's previous success in attracting the US International Development Finance Corporation as an investor. Somerset has a track record of supporting companies like Genworks, Apex Hospitals, and Sterling Hospitals. The new partnership aims to enhance its investment capabilities in the healthcare sector.
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Purplle Snags $100 Mn From ADIA, Others With Eye On More Offline Stores
Inc42
·
1y ago
Medial
Abu Dhabi's sovereign fund ADIA has led a funding round for beauty ecommerce marketplace Purplle, contributing $100 million. The investment from ADIA, alongside participation from new investor Creaegis, valued Purplle at $1.2-1.3 billion, a 15% increase from its previous funding round in 2020. Purplle, founded in 2012, sells beauty products and appliances, and this new funding will support its growth and expansion in the Indian market.
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Abu Dhabi launches free Wi-Fi across emirate, including beaches, parks and buses
Startup News FYI
·
1y ago
Medial
The Department of Municipalities and Transport (DMT) in Abu Dhabi has introduced free Wi-Fi at various public locations, including parks, beaches and buses. This initiative is part of Abu Dhabi's smart city development plan and aims to enhance its digital infrastructure. The service is being offered in collaboration with UAE service providers and allows for connectivity across different areas in Abu Dhabi. The move aligns with Abu Dhabi's commitment to innovation, inclusivity and sustainability as it strives to become a leading smart city.
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Funds make a beeline for beauty platforms; Purplle raises $100 million
Economic Times
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1y ago
Medial
Abu Dhabi's sovereign fund ADIA has led a $100 million financing in Mumbai-based beauty retailer Purplle, valuing the company at around $1.2-1.3 billion. This reflects the growing demand for omnichannel beauty retailers and brands post-Covid, attracting significant investment from venture capital and private equity funds. Creaegis, a PE fund, is expected to join the funding round as a new investor. Meanwhile, caffeine-based skincare and haircare brand MCaffeine is also in the process of raising funds and considering strategic investors. The beauty sector in India is witnessing the emergence of several new brands, attracting investor interest and driving growth.
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Saudi Arabia’s Jadwa onboards sovereign investor as LP for private equity fund
VCCircle
·
8m ago
Medial
Jadwa Investment, a Saudi Arabian firm with over $20 billion in managed assets, has attracted a sovereign investor as a limited partner (LP) for its private equity fund. This fund marks Jadwa's first regional blind-pool fund, spanning various asset classes including private equity, public equity, real estate, and private credit. The sovereign investor's participation adds further credibility and support to Jadwa's investment endeavors.
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Mubadala to invest in an African mobility-focussed financier
VCCircle
·
1y ago
Medial
Abu Dhabi's sovereign investor, Mubadala Investment Company, has decided to invest in an African mobility fintech company. With assets worth $276 billion spread across more than 50 countries, Mubadala has previously invested in Indian companies like Tata Power Renewables and Jio Platforms. The specific amount of this investment remains undisclosed.
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Kelix Bio to acquire five UAE-based pharma entities post Mubadala deal
VCCircle
·
1y ago
Medial
Kelix Bio, a specialty generic biopharmaceutical company, plans to acquire five pharmaceutical entities based in the UAE. The move comes after the company's acquisition by Mubadala Investment Company, Abu Dhabi's sovereign investor. Kelix Bio aims to expand its product portfolio of affordable critical drugs and boost growth in emerging markets.
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Shorooq Partners' Albabtain on deploying new fund, growing interest in Saudi Arabia and more
VCCircle
·
1y ago
Medial
Shorooq Partners, a venture capital firm based in UAE, has successfully closed its Bedaya Fund II at $160 million, exceeding its initial target of $150 million. The firm's partner and country manager for Saudi Arabia, Yousef Albabtain, has noted a growing interest in investment opportunities in the country. Shorooq Partners is now focused on deploying the new fund and has seen an increase in potential deals in its pipeline.
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African PE RMBV onboards another LP for debut independent fund
VCCircle
·
3m ago
Medial
North Africa-focused private equity firm RMBV, formerly part of the Abraaj Group, has onboarded a French limited partner for its debut independent fund. The Tunisia-based firm is nearing the first close of this independent investment vehicle. Established as an independent entity in 2019 after Abraaj's collapse, RMBV is moving forward with securing investments for its new venture.
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