Gate Capital News Letter | Issue 744

Via Separations, a leader in process solutions for industrial separations, today announced $36 million in new funding with significant participation from new investors, including Climate Investment, Aramco Ventures, and Marathon Petroleum Corporation, alongside participation from existing backers, including Embark Ventures, The Grantham Foundation for the Protection of the Environment, Massachusetts Clean Energy Center (MassCEC), and Safar Partners.

Saudi Arabia’s $1 trillion sovereign wealth fund, the Public Investment Fund (PIF), has signed an agreement to anchor a new private credit fund targeting Saudi Arabia and the wider MENA region, as global firms step up efforts to tap opportunities linked to the kingdom’s $2 trillion economic transformation programme.

Saudi investment in Uzbekistan has surged by 400 percent over the past five years, reaching $26 billion, as the Saudi-Uzbek Business Council intensifies efforts to expand bilateral partnerships.

The council is currently organizing field visits across the Kingdom to explore new investment opportunities and connect them with Uzbek counterparts, according to its CEO, Faisal Ba Abdullah, in remarks to Al-Eqtisadiah.

Global and regional startups continued to attract capital across fintech, healthtech, e-commerce, and proptech, as investors backed platforms focused on financial infrastructure, consumer services, and data-driven solutions.

Kuwait  – Alshaya Group, a leading Kuwaiti business conglomerate and one of the world’s leading brand franchise operators,  today (April 8) announced that it has acquired the Starbucks Greece & Cyprus licensed business, becoming the new exclusive owner and operator of the business.

Gulf-listed Bahrain Family Leisure Company (BFLC) is moving forward with its reverse merger with Dividend Gate Capital (DGC) subsidiary, Truffle Hospitality Holding (Truffle), marking a major consolidation in the hospitality sector.

BinDawood Holding Co. signed, on April 6, a share purchase agreement (SPA) to acquire a 51% stake in Vaza Food Co. for SAR 217.9 million. The deal will be funded by the company’s internal resources and available financing facilities, BinDawood Holding said. The Saudi-listed company signed the deal with Faisal Alomaigan, Abdulwahab Aldakhil, Abdulaziz Altuwaijri, Alassas Almatina Co. for Investment and Almal Almustadam Co. for Investment, This transaction will require regulatory approvals, the company said in a statement to Tadawul.

Asas Makeen Real Estate Development and Investment Co. signed an agreement with Tawafuq Al Rimal Real Estate Fund to develop and execute superstructure works for a real estate project, with a total value of SAR 268.12 million (inclusive of VAT).

Lucky, a leading financial technology company in Egypt and the Middle East, today announced the successful closing of a $23 million Series B funding round, including a mix of equity and debt. The round was led by existing & new investors, including Disruptech Ventures, DPI Venture Capital via Nclude fund and new strategic participation from Suez Canal Bank and OneStop.

Maison Safqa, a Saudi-based flash-sale platform for premium and luxury brands, has raised $620,000 in a pre-seed funding round with participation from 500 Global through the Sanabil MENA 500 Accelerator Fund, alongside Saudi and international business angels.

Morocco-based retail B2B2C marketplace ZSystems has raised $1.65 million in a seed round led by Azur Innovation Management, with follow-on participation from MNF Ventures and Witamax and new backing from Harambeans Prosperity Fund.

Paramount Skydance is in talks to secure signed ‌equity commitments of almost $24 billion from three sovereign wealth funds led ​by Saudi Arabia to help back its takeover of Warner Bros ​Discovery, the ​Wall Street Journal reported on Sunday.

The merger would combine major studios and ​networks ‌such as CNN and ⁠CBS, enabling ⁠them to compete more aggressively as streaming draws audiences away from ​traditional linear TV.

Saudi sports gaming startup ElGoat has announced the close of a $266,000 Seed funding round via Trigon, reaching a valuation of $2.66 million. The funding will support product development, user growth, and regional expansion, as the startup targets the growing sports gaming market in MENA.

The Islamic Development Bank approved new financing totaling $384.28 million to support key development initiatives across member countries during a meeting for the IsDB Board of Executive Directors on April 6.

Doha, Qatar: Financial institutions are increasingly adopting modular platforms and application programming interface (API) based systems, enabling them to introduce new services without rebuilding core infrastructure.

Speaking to The Peninsula, industry experts noted that several major banks in Qatar have begun opening their platforms to external partners and fintech providers, allowing solutions such as digital payments, lending platforms, and financial management tools to integrate directly into existing banking systems.

Alkhorayef Water and Power Technologies Co. (AWPT) signed on April 8 a contract with National Water Co. (NWC) for SAR 52.2 million (excluding VAT), according to a statement to Tadawul.

Dubai Future District Fund (DFDF) has signed a MoU with Second Century Ventures (SCV). SCV is the venture arm backed by the National Association of REALTORS (NAR) and operates the global REACH real estate technology accelerator. The agreement aims to support the growth of real estate innovation in Dubai.

Professional Medical Expertise Co. (ProMedEx) renewed its credit facility worth SAR 84 million with Riyad Bank. The loan will be used to finance ongoing projects and support ProMedEx’s expansion plans.