Gate Capital News Letter | Issue 758

Jada Fund of Funds, a wholly owned subsidiary of the Public Investment Fund, established to develop Saudi Arabia’s private capital ecosystem across venture capital, private equity, and private debt, has announced its strategic commitment to Growth Catalyst Fund I, a Saudi-based private equity fund licensed by the Capital Market Authority with a targeted fund size of SAR750 million ($ 200 million), focused on scaling high-potential mid-market companies across the Kingdom.

Brookfield has raised $2 billion in the first close of its Middle East-focused fund anchored by Saudi Arabia sovereign investor, the Public Investment Fund (PIF), along with group of anchor investors and institutional partners. The Canadian asset manager is also committing $500 million to the Brookfield Middle East Partners (BMEP), described as a new private equity fund investing in businesses based in Saudi Arabia and the wider Middle East region, which focuses on a range of sectors, including financial, business and consumer services, industrials, technology and healthcare.

The MERA Oil consortium of U.S. and Saudi Arabian companies is advancing plans for a $5 billion integrated refinery and export corridor in the Gulf aimed at boosting regional energy infrastructure, its partners said on Wednesday, as the Iran war continues to disrupt energy flows.

Texas-based energy development company MWG Group, the Patel Family Office and PWS, an associate company of Saudi industrial conglomerate AHQ Group, have entered the final stage of site selection for the refinery, which will have capacity of 200,000 barrels per day.

While uncertainty stemming from the Iran–US conflict has weighed on credit markets and constrained traditional fundraising in the GCC, two mega private market deals announced this week underscore the resilience of investor appetite in the region.

DUBAI – Dubai Investments has completed the acquisition of an 80 percent stake in Clemenceau Medical Centre Dubai (CMC Dubai), increasing the group’s ownership from 20 percent to 100 percent.

The transaction was completed through Dubai Investments Industries, a wholly owned subsidiary of Dubai Investments. Following the transaction, CMC Dubai becomes a wholly owned subsidiary of the group.

Abdulaziz and Mansour Ibrahim AlBabtain Co. (AlBabtain Food) signed, on July 29, a binding sale and purchase agreement (SPA), to sell its entire 3% stake in Jordan-based Chocolate Lake for Chocolate and Confectionery Manufacturing LLC.

The SPA was signed with Indulgent Food International Holding Ltd., registered with the Dubai International Financial Centre (DIFC).

Qatari digital payments company SkipCash has secured a strategic investment from Qatar International Islamic Bank (QIIB), marking another milestone in the company’s growth as it expands its digital payments infrastructure across Qatar and the GCC. While the value of the investment was not disclosed, the deal reflects growing collaboration between established financial institutions and local fintech companies as Qatar advances its digital economy ambitions.

Founded in 2019 by Mohammed Abdulaziz AlDelaimi, SkipCash provides digital payment solutions for businesses, including online payment gateways, merchant acquiring, QR payments, payment links, Tap to Phone (SoftPOS), and integrated payment technologies.

Saudi billionaire Prince Alwaleed bin Talal Al Saud has taken a 5% stake in Lucid, according to a regulatory filing on Tuesday. Shares of the company closed up over 21%, and were down 3.4% in extended trading.

Alwaleed owns about 19.5 million shares, amounting to a $126.83 million stake in the company, based on its last closing price of $6.50.

Abu Dhabi-based BY Venture Partners has joined an oversubscribed $2 million pre-Seed funding round for Canadian AI startup ChatFeatured, backing the company’s mission to help brands improve their visibility across AI-powered search platforms.

Saudi-based Red Sea International Company today (July 28) announced that its subsidiary, The Fundamental Installation for Electric Work Co., has amended a financing agreement with Saudi National Bank, increasing the value of its banking facilities to SAR430.8 million ($114.9 million) from SAR 200 million ($52.4 million) earlier.

The European Commission (EC) approved, under the EU Merger Regulation (EUMR), the joint acquisition of HUMAIN by Saudi Aramco and the Public Investment Fund (PIF).

Emaar Development has sealed a strategic collaboration with Abu Dhabi Commercial Bank (ADCB) to enhance the home-buying experience across its portfolio of ready and off-plan premium residential communities in Dubai.

Announcing this, Emaar Development said under the new off-plan financing solution, eligible customers can secure pre-approval for financing of up to 50% of a property’s value.

Saudi Arabia-based game development studio Ash Games has raised a $1.5 million Seed round, co-led by Merak Capital and Impact46 through the Merak Gaming Fund, to accelerate its global expansion.

Dubai Aerospace Enterprise (DAE) has completed its acquisition of 100% of the outstanding share capital of Macquarie AirFinance (MAF) and its subsidiaries in a deal with an enterprise value of approximately $9 billion.

The Arab Energy Fund (TAEF) is set to make a non-binding tender offer to acquire a 20% stake in Egypt-listed Maridive & Oil Services.

The Saudi Arabia-headquartered multilateral energy investment institution, which manages assets of around $13.4 billion as of end of 2025, proposed a price range of $0.65 to $0.72 per share, although the final offer price could be adjusted based on the findings of the due diligence process.

Global alternative investment firm Investcorp has invested in Berger Financial Group, a US-based wealth management platform with more than $3 billion in assets under management, marking its entry into the North American wealth management sector.

UAE-based fintech startup Epic Markets has raised $10 million in a pre-Seed funding round from Karatage to develop a multi-asset brokerage platform designed to provide retail investors with institutional-grade trading capabilities. The investment marks the company’s first disclosed funding round and signals investor confidence in its vision to modernise the retail trading experience.

Taqa, Abu Dhabi National Energy Company, has raised $750 million through a five-year Blue Bond to finance sustainable water and wastewater management projects, marking several regional and global milestones