Gate Capital News Letter | Issue 739

The Presight–Shorooq Fund I, a $100 million global AI fund launched in September 2025, has deployed capital into five AI startups across the US and UAE within its first 120 days. The fund, a partnership between Presight (a G42 company) and Shorooq, invested in Nodeshift, Candid, Hebbia, Blue, and Crunched, spanning sovereign AI cloud, vertical AI for finance and construction, and edge-native voice AI systems.

Riyadh Valley Company Launches King Saud University Venture Fund in Partnership with SparkLabs Riyadh Valley Company—the investment arm of King Saud University—announced its contribution to establishing the King Saud University Venture Fund and Startup Accelerator in collaboration with the global group SparkLabs. This strategic initiative aims to strengthen the university’s innovation ecosystem and transform scientific research outputs and entrepreneurial projects into high-impact, sustainable tech startups.

ASMO, a joint venture between Saudi oil giant Aramco and multinational logistics company DHL Supply Chain, has sealed a partnership deal with Arcapita Group Holdings, a global alternative investment firm, to develop a 1.4 million sq m purpose-built logistics facility at King Salman Energy Park (Spark) in Saudi Arabia designed to support the next phase of the kingdom’s logistics and supply chain development.

Startups across the Middle East and North Africa have secured fresh capital spanning fintech, artificial intelligence, cybersecurity, and beyond, reflecting sustained investor appetite for technology-led growth.

Frimex International Investment Co. has acquired a 60 percent stake in Saudi healthcare company Gulf Neo Care, as part of plans to expand its presence in the Kingdom’s growing healthcare sector.

Saudi Arabia’s Jada Fund of Funds, a subsidiary of Public Investment Fund (PIF), is looking to ramp up allocation into private credit. The sovereign wealth fund unit has recently entered a deal with India’s venture debt company, Stride Ventures, which has plans to invest $200 million in the Gulf state in the next two years, according to Bloomberg.

UAE-based proptech Takeem has secured investment from REACH Middle East, an accelerator backed by Second Century Ventures, the investment arm of the US National Association of Realtors (NAR) and one of the world’s most active proptech investors.

Aircraft leasing firm Dubai Aerospace Enterprise (DAE) Ltd will acquire Macquarie AirFinance Ltd for an approximate enterprise value of $7 billion.

Bahrain-based equity crowdfunding platform Beban is preparing to launch operations in Egypt as part of its regional expansion strategy, following an increased investment from Foras AI, the investment vehicle founded by Exits MENA CEO Mohamed Aboulnaga.

Morocco-based fintech WafR has closed $4 million in an oversubscribed seed round, co-led by LoftyInc Capital, Attijariwafa Ventures, and Almada Ventures, with participation from returning investors UM6P Ventures and First Circle Capital.

Exus Renewables, a leading global energy solutions provider, has signed an agreement with Abu Dhabi Future Energy Company, Masdar, a global clean energy leader, to acquire a 60% stake in a portfolio of nine wind farms in Portugal. Following the transaction, Masdar will retain a 40% stake in the portfolio.

Beltone Holding is expanding its investment platform with the launch of its Private Equity platform, further strengthening the Group’s multi-stage investment strategy and reinforcing its commitment to supporting startups from Pre-Seed to Pre-IPO.

The UAE’s EDGE Group and Spain’s EM&E Group have signed an agreement to explore the establishment of a UAE-based joint venture, supported by a commercial pipeline of approximately US$1.5 billion.

Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye (MENAT) region, has successfully structured and completed a green facility for Arabian Gulf Steel Industries (AGSI).

Private credit investment firm 5C Investment Partners has entered a strategic partnership with the Qatar Investment Authority to support the expansion of the US firm’s direct lending platform, the companies said on Monday.

Founded by former Goldman Sachs executives Mike Koester and Tom Connolly, 5C manages about $3bn in long-term capital.

The firm provides financing to upper middle-market companies across sectors including business services, software, healthcare and financial services.

Citigroup said on Monday it had entered into agreements to ​sell a 24% stake in Banamex to a group of institutional investors ​and family ​offices for around $2.5 billion.

Oman International Development and Investment Company SAOG (Ominvest) has approved the sale of its 80 per cent equity stake in Jabreen Investment Ventures SAOC, along with certain international investments, to a strategic investor.

Kuwait marks its 65th National Day today (on February 25), highlighting a year of strong financial performance underpinned by sovereign wealth fund assets exceeding $1 trillion, according to a regional statistical report.