Gate Capital News Letter | Issue 770

Eli Lilly and Company (Lilly) and Mubadala Bio have announced a strategic collaboration to advance the localised packaging and logistics of Lilly’s GLP-1 medicines in Abu Dhabi, marking an important step in a shared commitment to advancing the emirate’s growing life sciences ecosystem. The collaboration brings together Lilly’s global expertise in discovering, developing and delivering innovative medicines with Mubadala Bio’s integrated life sciences platform and growing international footprint

Saudi Arabia-based fintech Vrtx has raised $3.6 million in a pre-Seed round, backed by SC Ventures by Standard Chartered, Sadu Capital, BYLD, Suhail Ventures, F6 Ventures, TAZ Investment and Palm Ventures. The Riyadh-based startup has received In-Principle Approval from the Saudi Central Bank (SAMA) for an Electronic Money Institution (EMI) licence, as it works towards offering its services within the kingdom’s regulatory framework.

Leading UAE master developer Arada has announced the establishment of Arada KSA, a new real estate development company that will be responsible for delivering large-scale communities across the Kingdom of Saudi Arabia.

The new entity has been founded in strategic partnership with XTOPIA, a community and lifestyle company developing integrated mixed-use destinations across the region.

Startups across the Middle East and North Africa raised $2.98 billion during the first nine months of the year, according to MAGNiTT, as $100 million mega-rounds generated $1.5 billion, exceeding their full-year 2025 total.

Ayan, a UAE-based artificial intelligence start-up, has raised Dh2.2 million in pre-seed funding from strategic global business angels to expand rapidly beyond the Middle East and North Africa, where it already leads in front office intelligence for AI-led buying

UAE-based creative technology startup Popcorn Studio AI has secured a $1 million pre-seed funding package, led by Emirati entrepreneur and investor Mohammed Bin Bouta Alharsoosi, to support product development and international expansion.

Vitalls, the digital health passport platform, and EST Growmore Pte. Ltd., [investment arm of EST Group], today announced, during the Abu Dhabi Future Health Summit, an agreement under which EST Growmore will invest US 1.5 million in Vitalls’ seed round, with an option to invest a further US 1 million.

Under the agreement, EST Growmore will join the seed round as an anchor investor, while the two companies will explore distribution, product development and strategic partnerships across EST Group’s telecommunications and healthcare investment portfolio.

CapQuest, a Dubai-based equity management platform, has announced the successful closing of its $1 million Pre-Seed funding round, led by Oraseya Capital and AMKM Family Office. Founded by Antoine Bruna, Marco Banfi, and Anvita Varshney, CapQuest is transforming how companies manage equity, ownership, and investor relations.

Emirates NBD Asset Management and BlackRock have launched two new income-focused funds, the FundStar Emirates CLO AA Fund and the Emirates Systematic Income and Growth Fund.

The two new funds are structured to address growing investor demand for regular income, capital preservation and global portfolio diversification in a modern, dynamic market environment through professionally managed solutions supported by BlackRock’s global investment expertise

UAE-based healthtech startup Nabta Health has secured a fresh investment from Phoenix Venture Partners (PVP), which led the second close of the company’s ongoing $3 million pre-Series A round. PVP’s investment includes both primary and secondary capital, while the amount raised in this closing was not disclosed.

The funding will support Nabta Health’s commercial expansion, customer acquisition and strategic partnerships, particularly with employers, insurance companies and healthcare providers.

A Saudi-Chinese consortium has won a SR1.15 billion ($306 million) contract to design, supply and install curtain-wall facades at Prince Mohammed bin Salman Stadium in Qiddiya, planned for the 2034 FIFA World Cup.

The joint venture, IKK Fangda JV Co., is owned by two companies: China Fangda Group’s Shihui International Holdings, which holds a 51 percent stake, and Saudi-based Isam Kabbani & Partners, a subsidiary of IKK Group, which owns the remaining 49 percent.

A unit of the Abu Dhabi Investment Authority (ADIA) has been named as an anchor investor in Indian hospital operator Paras Healthcare’s INR 14.50 billion ($153.4 million) IPO, which opened today.

The Abu Dhabi sovereign wealth fund unit Stable has been allocated 10.73% of the anchor investment portion, amounting to 10,10, 058 shares, according to a Bombay Stock Exchange (BSE) filing.

Shareholders of Seef Properties have approved the sale of an additional 20.67% stake to GFH Partners. The transaction with the subsidiary, Seef Equity Growth Investment, includes a total of 95,088,461 shares of the real estate development, hospitality and retail management firm’s share capital, GFH said in a disclosure on Monday.

DIP Holding, the owner of Dubai Investments Park (DIP) has announced its intention to list its shares on the Dubai Financial Market (DFM) through an Initial Public Offering (IPO) comprising the sale by Dubai Investments of existing ordinary shares representing 20% of DIP Holding’s issued share capital.

Ebdaa Microfinance Company has signed a strategic partnership agreement with Key Link Corp, a Bahrain-based provider of company formation and business services, to deliver greater value to entrepreneurs and owners of small and micro-enterprises by improving their access to financial solutions, professional expertise and specialised business support.

AE defense conglomerate EDGE Group has increased its strategic commitment to High Lander, an autonomous airspace and drone fleet management startup. The move is part of a $16 million Series A extension.

The Middle East, North Africa and Türkiye (MENAT) region offers a pipeline of infrastructure projects worth $872 billion, reflecting robust investment potential and providing international and corporate investors with greater exposure to the region ahead of 2030, according to HSBC.

Academy of Learning Co. (AOL) secured Shariah-compliant credit facilities worth SAR 24 million from Alinma Bank, according to a statement to Tadawul. The facilities are secured by a joint and several guarantee and declarations of indemnity and performance from the current chairman.