Gate Capital News Letter | Issue 736

Shorooq, a leading tech-focused multi-strategy investment firm, today announced the launch of its $200 million late-stage growth fund, backed by QIA among others, at Web Summit Qatar.

The new fund targets late-stage and pre-IPO companies with proven scale, strong fundamentals, and clear exit pathways, particularly through public listings. It is designed to address a long-standing gap in the region’s capital markets: consistent, institutional late-stage funding.

EvolutionX, the growth-stage private credit platform established by Temasek and DBS Bank, has announced its first investment in the Gulf region, leading a $50 million growth capital round raised by Kitopi, the Middle East’s leading next-generation F&B ecosystem.

The funding will fuel the expansion of Kitopi’s leading homegrown brands across high-growth markets, including the UAE, Saudi Arabia, Qatar, Bahrain and Kuwait, while further accelerating the company’s franchising plans in the region and beyond.

UAE-based Albatha Healthcare Group has acquired a controlling stake in Insights Psychology, as part of a strategy to expand into the country’s mental health and behavioral services sector.

Albatha’s acquisition includes the existing multidisciplinary practice of Insights, the company’s clinical staff and operational centres.

Mega deals in energy, technology and artificial intelligence (AI) will continue to influence M&A transactions in MENA this year as sovereigns in the region continue to diversify their economies

XRG, an international energy investment company based in Abu Dhabi, has signed an agreement with the Ministry of Economy of Azerbaijan to acquire an equity stake in Southern Gas Corridor CJSC (SGC).

The agreement is subject to satisfaction of conditions precedent, including customary regulatory and antitrust approvals, said a WAM news agency report.

Kamco Invest, a regional non-banking financial powerhouse with one of the largest assets under management in the Middle East, and PGIM, the global asset management business of Prudential Financial (PFI), have signed a MoU to pursue a strategic partnership that leverages their complementary capabilities and expertise across wealth and asset management.

Headquartered in New Jersey, PGIM is a leading global investment manager with $1.5 trillion in assets under management.

Aldar and Mubadala Investment Company have completed a strategic joint venture to create a premier retail platform anchored by two of Abu Dhabi’s flagship assets, Yas Mall and The Galleria Luxury Collection, with a combined gross asset value of about AED 10 billion ($2.72 billion). Managed by the emirate’s largest developer, Aldar, the new platform brings together income‑generating retail destinations with strong occupancy levels. Aldar has contributed Yas Mall, while the sovereign investor, Mubadala, has added The Galleria Luxury Collection, forming a consolidated portfolio of prime assets valued at approximately AED 10 billion.

BlueFive Capital, a global investment firm, has announced that it has successfully closed the Onyx Fund I, a $3 billion fund registered with the Abu Dhabi Global Market (ADGM). The key fund will target opportunistic technology and growth capital investments in the US and Europe.

Sunset Hospitality Group (SHG), a lifestyle hospitality company, has strategically invested in Solutions Group, one of the UAE’s most celebrated hospitality operators. The partnership enhances market reach, operational synergies, and the ability to capture new customer segments, solidifying leadership in the global lifestyle hospitality sector.

UAE – UAE-based e-commerce AI startup Yozo.ai has secured $1.70 million in pre-seed funding, co-led by Access Bridge Ventures and Disruptech Ventures and joined by Arzan VC, Oraseya Capital, Plus VC, Suhail Ventures, Glint Ventures, and M-Empire Angels.

Qureos, an AI driven hiring platform founded in the Middle East, has closed a $5 million seed round led by Prosus Ventures and Salica Oryx Fund, with participation from Oraseya Capital, PlusVC, F6 Ventures, BDev Ventures, Sunny Side Venture Partners and Daniel Tyre.

MUHIDE has closed its Series A investment round with Asyad Group at a significant valuation, marking a key milestone in the company’s growth and mission to modernise B2B trade in Saudi Arabia.

The investment supports MUHIDE’s vision of governing and authenticating B2B transactions across the trade ecosystem, improving operational efficiency, transparency, and risk management for businesses operating at scale.

Jordan’s Alefredo EdTech, which has branched into the UAE, has acquired United Kingdom’s tutoring giant, Tutor House, as part of the firm’s expansion strategy.

The acquisition marks the Middle East company’s entry into the UK market and boosts its portfolio with a global network of more than 30,000 vetted, expert tutors.

Standard Chartered has raised $170 million by issuing a Certificate of Deposit through its Dubai International Financial Centre (DIFC) branch, underlining the UAE’s expanding role as a global hub for money flows and cross-border financing.

The transaction, completed on February 2, 2026, was carried out under the bank’s UK electronic commercial paper and certificate of deposit programme.

SAB Invest announced the signing of a financing agreement with Saudi Awwal Bank (SAB) for SAR 1.1 billion. The fund’s total assets are expected to be valued at SAR 2 billion.

Debt financing is a core component of the fund’s capital structure and is intended to accelerate project development, enhance capital efficiency through the diversification of funding sources, as well as strengthen investor confidence by increasing the attractiveness of Capital Market Authority (CMA) regulated real estate funds to institutional investors seeking exposure to the Riyadh real estate market.

Self-driving tech company Waymo has raised $16 billion from investors, including Abu Dhabi’s Mubadala Capital, to help the robotaxi operator expand its international footprint. The latest investment round, which values the Alphabet subsidiary at $126 billion, was led by Dragoneer Investment Group, DST Global and Sequoia Capital.

CedarBridge Capital Partners today announced that its third private equity vehicle, CedarBridge High Growth III, L.P. (CBHG III), has begun investing, marking the continued execution of a strategy the firm has been building and deploying across the GCC for more than a decade.

Mersal Media Capital (MMC), a homegrown media investment company, has closed its first funding round worth SAR 5 million (approximately $1.33 million), led by an unnamed private investment fund, according to Jawlah.