Ras Al Khaimah (RAK) is increasingly becoming a significant global investment hub, attracting businesses and luxury developers with its investor-friendly policies and stunning natural landscapes. The emirate has seen a remarkable transformation, moving from a quiet escape to a hotspot for global enterprises. In 2024, RAK recorded a 12% increase in tourism revenues, welcoming over...
The Abu Dhabi Investment Authority (ADIA) is enhancing its focus on Artificial Intelligence (AI) by participating in a $200 million seed funding round for a US-based firm specializing in life sciences called Lila Sciences. The financial specifics of this investment, which was made through a wholly owned subsidiary of ADIA, have not been disclosed. Lila...
Impact46, acting as the fund manager for the Venture Capital InsurTech Fund and Impact Growth Fund, has successfully sold all of its shares in Rasan Information Technology Company. This transaction involved 13,296,836 shares, which constitute approximately 17.16% of Rasan’s total share capital. The sale was executed through an Accelerated Bookbuild Offering, and the offering size...
UAE-based wellness company Longevity Wellness Hub has successfully raised US$4 million from undisclosed investors. This funding will facilitate the company’s expansion across the Gulf Cooperation Council (GCC) region. Founded in 2019 by Dani Afiouni, Longevity Wellness Hub offers a range of services, including hyperbaric oxygen therapy, red light therapy, and quantum diagnostics. The company plans...
Abu Dhabi’s MGX has made a landmark investment of $2 billion in Binance, marking the first institutional investment in the world’s largest cryptocurrency exchange. This significant move into the cryptocurrency sector comes as MGX seeks to diversify its portfolio, particularly into blockchain and related technologies. According to Bloomberg, the investment represents MGX’s inaugural entry into...
Dubai-based robotics manufacturer Micropolis Holding has successfully raised $15.5 million from its recent initial public offering (IPO) on the New York Stock Exchange (NYSE) American. The company specializes in developing autonomous mobile robots and offered approximately 3.9 million ordinary shares priced at $4 each, which is at the lower end of the expected range. Following...
Aramco Ventures, the investment arm of Saudi Aramco, has participated in a funding round for Ucaneo, a German startup focused on developing the country’s largest direct air capture facility. This investment follows Ucaneo’s successful seed round of €6.75 million ($7.3 million) in September 2024, although the specific amount of Aramco Ventures’ investment has not been...
Italy’s Synapsia has finalized a $2.5 billion contract with UAE’s Bold Technologies to deliver AI-powered city management services for Abu Dhabi. The Italian firm will develop advanced technology aimed at resolving urban challenges, including issues related to transport, parking, and emergency disaster response. Marinelli described the initiative as a “cognitive city project,” which he stated...
Phoenix Venture Partners Ltd. has announced the successful first close of its private placement for the Phoenix Venture Partners Innovation Fund CEIC Ltd. The fund has raised its initial capital from a diverse group of professional investors, which includes family offices and high-net-worth individuals. The capital raised will be utilized to invest in promising early-stage...
Mubadala Investment Company has successfully finalized the sale of its indirect stake in Calisen, a leading provider of energy services in the United Kingdom. This transaction marks a significant move for Mubadala in its strategic investment portfolio, reflecting its commitment to restructuring its investments in the energy sector. Calisen specializes in managing energy assets and...