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Tag Archives: fund

Saudi fund agrees plan to invest in Virgin space ventures

Saudi Arabia’s Public Investment Fund plans to invest about $1 billion in Richard Branson’s space company, Virgin Galactic, and sister companies The Spaceship Company and Virgin Orbit, according to a joint statement published on Thursday. “This investment will enable us to develop the next generation of satellite launches and accelerate our programme for point to point supersonic space travel,” the …

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WGES 2017: Region needs green bonds to fund renewable schemes, says bank project finance head

By: Imogen Lillywhite, ZAWYA Capital markets need to get involved in investing in green projects to meet the region’s renewable energy targets, according to a UAE banking head. Frank Beckers, head of project finance and advisory, First Abu Dhabi Bank, told delegates at the World Green Economy Summit in Dubai on Wednesday that while the region was leading the way …

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Saudi Arabia reform push targets wealth fund doubling assets

Saudi Arabia presented ambitious plans for economic and social renewal before a host of A-list global investors on Wednesday, saying its main sovereign wealth fund wants to increase its financial clout to 1.5 trillion riyals ($400 billion) by 2020. The Public Investment Fund (PIF) announced the assets-under-management goal at a conference showcasing a programme to turn the strictly conservative country …

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New $250 million Dubai tech fund to target 15 investments

The new $250 million technology investment fund launched on Wednesday by Middle East Venture Partners (MEVP) will invest in about 15 companies, including a number of its existing portfolio companies, CEO Walid Hanna has said. Speaking to Zawya on the sidelines of the launch in Dubai, Hanna said he was “absolutely confident” of being able to source enough investible businesses. …

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Bahrain sovereign fund CEO says hopes to invest in Aramco IPO

ST PETERSBURG, Russia Bahrain’s sovereign wealth fund Mumtalakat hopes to take part in the initial public offering (IPO) of shares in Saudi state oil giant Aramco, the fund’s CEO told Reuters, predicting additional opportunities from the kingdom’s reform program. Saudi Aramco, the world’s biggest oil producer, plans to list around 5 percent of its stock on multiple exchanges next year …

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Prince Alwaleed Joins Bill Gates in Supporting Energy Investment Fund with $50 Million

HRH Prince Alwaleed Bin Talal Bin Abdulaziz AlSaud, Chairman of Alwaleed Philanthropies, announced supporting the Breakthrough Energy Ventures (BEV) with $50 million, through joining Bill Gates and members of the Breakthrough Energy Coalition (BEC) in their commitment to invest more than $1 billion in energy technologies. Breakthrough Energy Ventures (BEV) is an investor-led fund that will finance emerging energy breakthroughs …

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MoF organises workshop for the launch of the ‘HH Sheikh Mohammed bin Rashid Al Maktoum Fund to Finance Innovation’ pilot phase

As part of its commitment to support the federal government’s directives with regards to innovation, the Ministry of Finance ( MoF ), organised earlier this month, a workshop for the launch of ‘HH Sheikh Mohammed bin Rashid Al Maktoum Fund to Finance Innovation’ pilot phase, at its premises in Dubai. The fund was announced during ‘UAE Innovation Week’ and is …

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IDC to Support UAE ICT Fund as Knowledge Partner for ICT Entrepreneurship and Innovation Strategy for the UAE

International Data Corporation (IDC), the premier global provider of market intelligence and advisory services for the ICT sector, announced today the commencement of a strategic consulting project with the UAE ICT Fund to develop long-term plans for the growth and expansion of the country’s information and communications technology (ICT) sector. This large-scale study will analyze the current state of the …

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Itqan plans $200m fund targeting education

A Saudi-based investment firm is planning to launch a first-of-its-kind private equity fund in the Middle East that will solely focus on investment in the fast-growing education sector in the Gulf region, its top executive said. Itqan Capital, a unit of Bahrain’s Al-Baraka Banking Group, is eyeing up to $200 million for the fund that it plans to launch with …

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