Gate Capital News Letter | Issue 726

Builtop, a Saudi digital procurement startup transforming construction and real estate operations, has raised $11 million in a funding round led by TAM Capital, with participation from other investors. The funding will fuel Saudi expansion, enhance AI capabilities, and support Vision 2030 infrastructure projects through smarter procurement and financing models. The platform combines digital procurement, embedded finance, and AI-powered tools to improve operational efficiency

Quintas Capital is delighted to announce the completion of its first Managed Equity investment of US$ 18 million in the Petal Group, a fast-growing floral gifting and e-commerce business headquartered across Ireland and the UAE. The Petal Group operates a portfolio of leading online flower brands — Flowers.ie, FlowersDirect.ie, BloomMagic.ie, and Flowers.ae — which together deliver thousands of the highest quality floral gifts every week across Ireland and the UAE.

Binbar Investment, a company specialized in real estate investment solutions, announced the signing of a strategic partnership with Joa Capital, along with Rabeh serving as the fund’s technical advisor, to launch Marhoon Fund, the first direct financing fund in Saudi Arabia dedicated to securing loans through lease and usufruct contracts. The fund has a total investment volume of SAR 500 million.

The fund aims to enable Saudi companies to access innovative financing solutions backed by their operational assets as collateral.

Nine out of 10 international businesses operating in the UAE aim to invest in Saudi Arabia in the next five years, as they bet on continued economic momentum in the kingdom to boost growth, according to a new report.

Saudi Arabia’s fintech firm Tarmeez Capital has rolled out a government-backed billion-dollar financing initiative to support small and medium enterprises (SMEs) in the kingdom. The programme is in line with the objectives of Saudi Vision 2030 by enhancing financing opportunities and making it easier for SMEs to grow.

First Circle Capital, a specialist early-stage venture fund focused on African fintech innovation, has secured US$6 million from the International Finance Corporation (IFC), a member of the World Bank Group, to expand its investments in high-potential financial technology startups across the continent.

Abu Dhabi-based developer and investor Aldar has acquired two institutional-grade industrial and logistics assets in from a subsidiary of AD Ports Group for 570 million dirhams ($155 million). The acquisition adds to Aldar’s recurring income portfolio. The acquisition from Khalifa Economic Zones (KEZAD) comprises two Grade A assets, occupied by Noon as e-commerce fulfilment centre and Emtelle, for the manufacture of fibre optic solutions for the telecoms sector.

WakeCap, the sensor-powered project intelligence and controls platform trusted by the world’s most complex construction and oil and gas projects, announces its acquisition of Trackfy, a workforce safety and operational solution for industrial companies.

SoftBank Group’s stock slid as much as 10 per cent on Wednesday after the tech investor’s exit from AI sector leader Nvidia spooked investors already nervous about climbing tech sector valuations.

Japanese financial services firm Orix 8591.T is teaming up with the Qatari sovereign wealth fund to launch a $2.5bn Japan-focused private-equity fund, Orix said in a release on Tuesday.

National Bank of Kuwait (NBK) and Mabanee Company (Mabanee), one of the region’s largest real estate developers, have signed Kuwait’s first green financing agreement for a loan of KD25 million ($81.46 million) to Mabanee.

DataCamp, the leading online learning platform for data and AI skill building, announced today that it has completed the acquisition of Dubai-based Optima, an AI-native learning platform for building data and AI skills. Optima founder and CEO Yusuf Saber will join DataCamp as Chief AI Officer, with the rest of the company’s employees joining DataCamp as part of the deal. Optima’s AI-native learning experience adjusts itself in real time, tailoring how it paces a lesson, explains concepts and gives feedback to each learner’s individual profile.

A joint venture between a subsidiary of the Abu Dhabi Investment Authority (ADIA) and real estate developer Landmark Properties has sold an eight-property student housing portfolio in a transaction valued more than $1 billion.

Al Kuzama Trading Co. signed a non-binding memorandum of understanding (MoU) to acquire a 30% equity stake in TwentyFour Cafe Co., a limited liability company operating in the beverages sector.

The GCC Power Grid which links six Gulf states expects to invest more than $3.5bn over the next 10 years to strengthen the grid, integrate renewable sources and open new export opportunities to neighbouring countries, the head of the grid’s operator GCCIA told Reuters on Tuesday.

The GCC grid is due to connect to Iraq next April, its first external link beyond the region, and is also looking at connecting to Jordan and Egypt and possibly Syria in future, said Ahmed Al-Ebrahim, CEO of the Gulf Cooperation Council Interconnection Authority (GCCIA).

Multiply Group announced Monday that its shareholders have approved all resolutions presented at the company’s General Assembly Meeting (GAM), including the proposed acquisitions of 2PointZero Holding RSC Limited and Ghitha Holding PJSC through share-swap transactions. These acquisitions form part of Multiply Group’s broader strategy to build scale, enhance portfolio synergies, and drive sustainable long-term value.

Spain’s ACS is close to striking a 23 billion euro ($26.8 billion) partnership with BlackRock’s Global Infrastructure Partners to develop data centres, newspaper Expansion reported on Thursday, citing unnamed market sources. Under this agreement, the U.S. asset manager GIP is set to take a 50% stake in the ACS Digital & Energy unit, Expansion said, consisting of 5 billion euros in equity capital.

Saudi Arabia’s Al Balad Development Co., fully owned by the Public Investment Fund, has launched a $3.6 billion investment portfolio for the hospitality sector, state TV reported on Tuesday. The initiative is part of the kingdom’s push to diversify its economy beyond oil by expanding tourism and hospitality, a pillar of its Vision 2030 reform plan.