Gate Capital News Letter | Issue 727

Ghanem, the digital real estate platform specialising in fractional ownership solutions, announced the closure of a funding round worth $7.1 million from Al-Romaih Group, one of the Kingdom’s leading investment groups with extensive experience in the real estate and financial sectors.

This investment represents a significant milestone in Ghanem’s journey towards achieving its vision of empowering individuals and institutions with access to innovative real estate investment opportunities.

Brookfield Asset Management is targeting $10 billion in equity for its new AI infrastructure fund, launching a new strategy aimed at investing in infrastructure tied to artificial intelligence, the Wall Street Journal reported on Wednesday. The Canadian investment firm has already raised $5 billion from investors.

The Canadian investment firm has already raised $5 billion from investors including Nvidia, Kuwait Investment Authority (KIA) and Brookfield’s own balance sheet, the Journal added.

The Abu Dhabi Investment Authority will sell 160.5 million of its existing shares in Qatari telecommunications company Ooredoo, around half of its shareholding, in a secondary share offering, Ooredoo said on Monday.

ADIA, headquartered in the United Arab Emirates’ capital, is one of the world’s biggest sovereign wealth funds. It currently holds a 10% stake in Ooredoo. Ooredoo will not receive any proceeds from the sale.

SAB Invest signed agreements to launch three real estate funds with a combined asset value of SAR 4.8 billion. The funds will invest in iconic projects such as Capital Gate, Retal Heights, and a mixed-use development, on the sidelines of its participation in Cityscape Riyadh 2025.

Secure.com today announced the launch of Digital Security Teammate (DST), a new category of AI-native agents built to help security teams survive the largest operational crisis the industry has ever faced. According to Cybersecurity Ventures, cybercrime damages have reached $10.5 trillion globally, the talent gap has widened to 4.8 million unfilled roles, and security teams continue to drown in 1000s of alerts a day from tools they cannot staff or manage.

Shatib, the Saudi technology platform specialising in group buying for construction materials, has announced the closing of a SAR 2.8 million pre-seed round from a strategic angel investor. The platform helps real estate developers and contractors secure better pricing by aggregating demand across multiple projects, strengthening negotiation power with manufacturers and distributors, and achieving cost savings ranging between 20 and 35 percent compared with typical market prices.

Aramco, one of the world’s leading integrated energy and chemicals companies, has announced 17 Memoranda of Understanding (MoUs) and agreements with a potential total value of more than $30 billion with major companies in the US, through its Aramco Group Companies.

These agreements build on the 34 MoUs announced in May, which had a potential total value of $90 billion, all supporting toward unlocking potential collaboration opportunities with companies in the US valued at around $120 billion.

Monolith Arabia, a Saudi, UK, and US–based real estate investment and development platform, has announced an SAR7 billion ($1.87 billion) investment pipeline focused on next-generation hospitality, wellness, and residential destinations across Riyadh, Madinah, and Asir.

Aster DM Healthcare has secured AED265million under a new partnership with Emirates Development Bank (EDB) towards the development of two multi-specialty hospitals in Dubai. Currently, Aster DM Healthcare in the UAE has a network of 10 hospitals with around 920 bed-capacity under the Aster and Medcare brands.

Saudi Arabia’s National Medical Care Company has secured up to SAR 228.5 million ($60.93 million) in financing from Saudi Awwal Bank to settle existing facilities from other lenders. The Murabaha facility is expected to reduce the company’s financing costs over the five-year duration, the company said on Monday.

Nabta Health (“NABTA”) is pleased to announce the closing of a $2 million Pre-Series A funding round, bringing its total funding to date to US $4.5 million. The Pre-Series A funding will enable NABTA to accelerate its mission to deliver accessible, evidence-based women’s healthcare and to expand its AI-powered hybrid model across the Middle East and Africa.

Invictus Investment Company, a leading agro-food enterprise in the Middle East and Africa, today announced it has secured a financing package from the Mauritius Commercial Bank Limited (MCB), to scale up its agro-food operations across Africa.

The US-based artificial generative intelligence start-up Luma AI has raised $900 million in a Series C funding round led by HUMAIN, an AI firm owned by Saudi Arabia’s Public Investment Fund, with participation from AMD Ventures, and existing investors Andreessen Horowitz, Amplify Partners, and Matrix Partners.

Midad Real Estate Co. has entered a landmark joint venture with Jeddah Central Development Co. — a subsidiary of the Public Investment Fund — and Kerzner International, the global hospitality group behind the iconic Atlantis and One&Only brands.

Investcorp Capital, a company founded by Investcorp and listed on the Abu Dhabi Securities Exchange (ADX), today (November 15) announced that it has acquired Kanawha Scales & Systems (KSS) from American Equipment Holdings (AEH), in a deal arranged by Investcorp.

Headquartered in Poca, West Virginia, KSS is a leading provider of mission-critical calibration, maintenance, and repair services for complex industrial weighing systems and automated control solutions in the US.

It was created through a series of acquisitions over several decades and has a long history of providing excellent customer service.

Tetr College, the first-of-its-kind global business school, has raised $18m in a funding round co-led by Owl Ventures and Bertelsmann India Investments (BII). The new capital will support the development of three international campuses in the United States, Europe and Dubai, while strengthening the school’s ten-country operating network across North America, Europe, the Middle East, Asia and Africa.

The Helicopter Company (THC), which is owned by Saudi Arabia’s Public Investment Fund (PIF), has acquired a 76 % stake in Africa’s Heliconia. The value of the majority stake acquisition was not disclosed. Heliconia is a leading operator in the aviation services sector, with presence in North and West Africa, particularly Morocco.

Takadao, the Web3 platform offering bankless financial alternatives through a community-owned ecosystem, announced the close of its US$1.5 million seed round with participation from global investors including Hasan VC (Malaysia), Syla Invest (France), Wahed Ventures (UK), Ice Blue Fund (Japan), Istari Ventures (US), and Adverse (Saudi Arabia), along with follow-on funding from Draper Associates of Silicon Valley.