Gate Capital News Letter | Issue 719

erad, the Riyadh-headquartered alternative financing platform for SMEs, has raised $33 million in debt financing to expand its operations in Saudi Arabia and the rest of the GCC. The round was led by Stride Ventures, which has recently doubled its team size in the region and also achieved the first close of its landmark ADGM Fund V, alongside participation from other investors.

Presight, a leading global AI and big data analytics company, and Shorooq, a leading Abu Dhabi-headquartered investment firm regulated by the FSRA as Fund Manager, today announced the launch of a global AI innovation fund (Presight–Shorooq Fund I) that aims to invest $100 million in the next generation of AI breakthroughs.

MBC Group Co. announced that the Public Investment Fund (PIF) completed the acquisition of a 54% stake in the MENA’s leading media company for SAR 7.47 billion.  The acquisition of Istedamah Holding’s stake aligns with the fund’s strategy to further develop the domestic media and entertainment sector.

PIF expects the deal to have a positive financial impact on the company’s business. The deal forms part of PIF’s ongoing strategy to strengthen the growth of the media and entertainment industries by fostering innovation, localization, and building an integrated media production ecosystem.

US-based PayPal will deploy $100 million across the Middle East and Africa through minority investments, acquisitions, PayPal Ventures funding, and technology deployment to scale digital commerce and support entrepreneurs.

Tunisia’s ANAVA Fund of Funds has invested $4 million in Rasmal Innovation Fund I, the debut fund launched by Qatar-based Rasmal Ventures. The investment aims to channel more international venture capital into Tunisia’s startup ecosystem and strengthen cross-border collaboration between MENA’s emerging innovation hubs.

Abu Dhabi sovereign wealth fund Mubadala, the top shareholder in Turkish delivery company Getir, is exploring exiting all its Getir investments in Turkey including its financing and car rental businesses, according to two sources with knowledge of the matter.

The Abu Dhabi-listed Aldar Properties has snapped up Modon Holding’s entire 17.45% indirect shareholding in Aldar Estates, held through Modon’s wholly owned subsidiary ADNEC Group. Following the sale, Aldar Properties will remain the majority shareholder in Aldar Estates by increasing its ownership to 82.55%. Aldar Properties said the move was driven by the rising demand for facilities management, property management, and community services, which would support Aldar’s own development pipeline.

Dar Al Arkan Real Estate Development Co. said it holds an 80% stake in the Jeddah land plot purchased for SAR 4.46 billion through a consortium with Kenzi Al Arabiya Co. and a group of investors.

Prince Alwaleed bin Talal bought an additional 15.2 million shares in Snapchat, raising his total stake in the company to 40.8 million shares, equivalent to 2.8% of its total shares, Bloomberg reported.

Muscat-listed Oman REIT has secured a Shariah-compliant term facility worth 16.2 million rial ($42.1 million), part of which was utilized on Tuesday to acquire a retail asset for a total consideration of OMR 4.1 million. The acquisition includes a cash payment of OMR 3.6 million, funded through the newly secured facility.

IFC has invested $100 million in DenizBank’s $270 million green bond. The five-year bond will help the Turkish bank fund eco-friendly projects like renewable energy, energy efficiency, waste management, and carbon reduction.

French pharmaceutical company BPI has signed a SR375 million ($100 million) agreement to establish its first manufacturing base in Saudi Arabia, securing a plot in Sudair City for Industry and Business.

The deal, signed with the Saudi Authority for Industrial Cities and Technology Zones, also known as MODON, under the patronage of Industry and Mineral Resources Minister Bandar Alkhorayef, covers a site exceeding 51,000 sq. meters.

Egypt’s Premium Healthcare Group, which is listed on the local bourse, is planning to establish a subsidiary in Kuwait to carry out acquisitions as part of its expansion plan, according to Beshoy George, Vice Chairman of the Group.

Tipalti, an Israeli AI-powered platform for finance automation, has secured US$200 million in growth financing from long-standing partner Hercules Capital. The funding will support Tipalti’s continued investment in AI, product development, and international expansion.

The Capital Market Authority (CMA) of Saudi Arabia has continued to strengthen the regulatory foundations for fintech growth, announcing that a total of 68 fintech experimental permits have been granted by the end of Q2 2025, with 50 fintech companies currently registered under the CMA’s Fintech Lab, 36 of which are actively operational.

This progress reflects the Kingdom’s evolution to a fintech environment that is ready and attractive for innovation, investment, and growth, in line with the objectives of Saudi Vision 2030 and the CMA Strategy 2024–2026.

Ooredoo Group has sold a minority 6% stake in Meeza- QSTP, Doha’s leading managed information technology services and solutions provider, to certain funds managed by Fiera Capital (UK) at the current market price. This partial disposal is line with Ooredoo’s strategy to focus on the operation and expansion of its own data centre platform Syntys.

CE-Ventures, the corporate venture capital platform of Crescent Enterprises, has announced its participation in the $7.7 million Series A funding round for India-based, research and development-led speciality chemicals company, Distil.

The surge in French investment follows a flurry of deals and opportunities across multiple sectors. In June, Saudi and French entities outlined potential investments exceeding SR10 billion ($2.6 billion) in the aviation sector, including airport infrastructure, air navigation, ground support technology, workforce training, and digital solutions.