Munaf Ali, the CEO of the UAE-based cryptocurrency firm Phoenix, has purchased over 20 million shares from the open market. This significant investment is aimed at reaffirming his strong belief in the company’s future prospects and long-term growth trajectory. Currently, Phoenix’s stock is trading at Dh0.99 on the Abu Dhabi Securities Exchange (ADX), which is...
UAE-based healthcare payments solutions provider Klaim has successfully secured $10 million in Series A equity funding, along with an additional $16 million in financing. This total investment of $26 million aims to support Klaim’s plans for regional expansion, particularly in the MENA region. The funding will facilitate Klaim’s mission to transform the healthcare financial landscape...
Dubai has earned the title of the world’s top destination for Greenfield Foreign Direct Investment (FDI) projects for the fourth consecutive year. In 2024, the emirate attracted an estimated AED52.3 billion ($14.24 billion) in FDI capital, reflecting a significant 33.2% increase from AED39.26 billion ($10.69 billion) in 2023. This marks the highest FDI value recorded...
Saudi Arabia’s investment landscape is evolving with significant funding activities across various sectors. Recently, Aramco Ventures spearheaded a $30 million Series A funding round for Spiritus, a climate tech startup based in the United States. Other notable participants in this funding round included Khosla Ventures, Mitsubishi Heavy Industries America, and TDK Ventures. According to ArabNews,...
IHC Capital Holding, based in Abu Dhabi, has sold more than 8.4 million shares of India’s Adani Enterprises for a total of 18.32 billion rupees, equivalent to $210 million. This sale was executed through open market transactions involving IHC’s subsidiaries, Green Vitality RSC and Green Energy Investment Holding RSC, as indicated by block deal data...
Saudi Arabia’s Public Investment Fund (PIF) and Goldman Sachs Asset Management have recently signed a non-binding memorandum of understanding (MoU). This partnership will allow PIF to serve as a strategic anchor investor for new private credit and public equity strategies in Saudi Arabia and the wider Gulf Cooperation Council (GCC) region. An anchor investor is...
Dubai-based Salica Spring Studios, supported by Salica Investments and Al Waha Fund of Funds, has announced a strategic investment in BILRS, a fast-growing provider of global bill payment solutions. This partnership is a significant step forward for BILRS as it aims to enhance its operations and improve financial accessibility for users worldwide. The investment will...
Start-ups in the Middle East and North Africa region secured $494 million in funding in February 2025, marking a remarkable increase of 457% compared to the same month last year. This data was reported by Wamda and Digital Digest. Entrepreneurs from Saudi Arabia and the UAE were the primary beneficiaries of this fundraising surge, accounting...
The Ministry of Economy in the UAE has announced a partnership with Schneider Electric to enhance its NextGen FDI programme. This collaboration aims to scale climate-tech start-ups within the country, reflecting a commitment to fostering innovation in sustainable technologies. The partnership is expected to leverage Schneider Electric’s expertise in energy management and automation, enabling local...
The UAE has cemented itself as a top destination for foreign direct investment (FDI), with its thriving economy and investor-friendly policies drawing significant international interest. In 2023, the country saw a 35% surge in FDI inflows, hitting AED 112.6 billion, according to the UNCTAD World Investment Report 2024. The Ministry of Investment revealed that foundational...