Gate Capital News Letter | Issue 746

Speedinvest, a globally active European venture capital firm, announces its first flagship fund, investing in early growth-stage companies across the Middle East and Africa. Backed by Mubadala Investment Company, Qatar Investment Authority (QIA), the European Investment Bank (EIB Global), and more, the fund formalizes Speedinvest’s long-standing investment activity in the region and reflects a strategic extension of its European platform

The Public Investment Fund(PIF) has signed a binding agreement for Kingdom Holding Company (KHC) to acquire a 70 per cent stake in Al Hilal Club Company, in a transaction valuing the football club at an enterprise value of SAR1.4bn, the two entities said recently. The deal marks another step in the restructuring of Saudi football assets under the kingdom’s wider sports sector transformation programme.

National Bank of Bahrain (NBB) has signed a memorandum of understanding (MoU) with the Bahrain Development of Small and Medium Enterprises Society (BDSMEs) to strengthen support for the Kingdom’s SME ecosystem.

The consideration will be paid in three installments over a period not exceeding 18 months, backed by a promissory note for the full amount. The deal carries no preferential terms and remains subject to shareholder approval.

Saudi Venture Capital has announced an investment in the Growth Catalyst Fund, marking a continued push to expand private equity activity in Saudi Arabia’s mid-market segment.

Abu Dhabi-based ​private equity investment ⁠manager Axight has agreed to ‌buy a minority stake in La Trobe Financial from ​Brookfield Asset Management , in a deal that values ​the Australian ​alternative asset manager at A$3 billion ($2.15 billion).

Emirates Global Aluminium (EGA) is planning to acquire an 80% stake in Italian aluminium recycling company Eco Green. Financial details of the acquisition have not been disclosed. The acquisition could accelerate the company’s growth in aluminium recycling across Europe.

FASCANO has announced the successful closing of its third investment round, raising $10 million with participation from His Highness Sayyid Dr. Kamel bin Fahd Al Said and Cyfr Capital, in partnership with the Future Fund Oman under the Oman Investment Authority.

The milestone reflects growing confidence in the company’s vision and its ability to deliver practical, technology-driven solutions for the hospitality and food & beverage sector.

A15, a Cairo-based early-stage venture capital firm focused on the MENA region, today  announced the acquisition of Viral Wave, an A15 portfolio company, by PopArabia, a partner in the  MENA region to NASDAQ-listed Reservoir (NASDAQ: RSVR).

Signit, a Saudi Technology company providing digital signatures and AI-powered contract management, today announced it has raised $15 million in Series A funding to expand its platform across Saudi Arabia. The company is licensed as a Trust Service Provider by the Saudi Digital Government Authority.

Saudi fashion startup Aya has announced the successful close of its SAR 26 million Series A round, led by RAED Ventures, with participation from Nuwa Capital, Sanabil Investments (a wholly owned company of PIF), Khwarizmi Ventures, Joa Capital and other investors.

Ray, a powerbank-sharing service, announced its launch in Dubai and revealed it has raised a $1.2 million seed round, primarily from private investors, including Meirambek Abelkasov and Serik Uspanov, co-founders of the kick-sharing company JET.

Riyadh Development Co. said it signed an agreement on April 22 to sell all of its units in Al Arabi Riyadh Development Real Estate Fund to Sumou Holding Co. for SAR 184.5 million, according to a statement to Tadawul.

The consideration will be paid in three installments over a period not exceeding 18 months, backed by a promissory note for the full amount. The deal carries no preferential terms and remains subject to shareholder approval.

Tamatem, a mobile games publisher founded in Jordan, has acquired Turkey’s Playable Factory, marking its entry into the ad tech space.

The acquisition aligns with Tamatem’s plan to expand into new global markets, the company, which has historically focused on the Middle East and North Africa (MENA) region, confirmed on Tuesday.

Investcorp Capital (ICAP), the Abu Dhabi-listed alternative investment firm, has acquired a $200 million investment in US residential real estate to capitalise on the growing demand for senior living and multifamily housing.

The portfolio acquisition comprises a multifamily community in New Jersey, and two senior housing properties in Orange County, California and Long Island, New York.

The Abu Dhabi-listed Aldar and sovereign wealth fund Mubadala Investment Company have acquired The Link at Masdar City through their joint venture. The acquisition is valued at 654 million UAE dirhams ($178 million).

In a joint statement, the companies said the acquisition follows their strategy for scaling an income-generating portfolio in sustainable urban developments.

Saudi utility giant Acwa and Saudi Energy Co. have signed a 31-year power purchase agreement with the Saudi Power Procurement Co. for the Rabigh 2 Independent Power Producer Expansion project. In separate Tadawul filings, Acwa and Saudi Energy Co. said the agreement, valued at SR11.5 billion ($3.07 billion).

iSchool has announced the acquisition of software engineering firm Rubikal, marking a strategic step toward building a full-stack AI infrastructure for schools. The move reflects iSchool’s evolution from an education provider into a technology-driven platform focused on developing proprietary AI systems for K-12 learning.

Stake, a leading digital real estate investment platform in the region, has announced a strategic partnership with Ace & Company, a Swiss-headquartered global investment group focused on private markets with more than $2 billion in assets under management, to support the development of liquidity solutions for investors in its products.