Dubai – Mubasher: Shuaa Capital has launched a $250 million venture debt fund, dubbed Shuaa Venture Partners, to be the largest in the GCC.
Focused on venture debt investments across the Gulf area, the Sharia fund will support the growth of regional technology companies that are seeking alternative sources of capital, according to a press release to the Dubai Financial Market (DFM) on Wednesday.
Head of Debt at Shuaa Capital, Natasha Hannoun, said: “We aim to support the growth of businesses, create jobs, lead further developments in innovation and technology, support economic diversification, and guide founders towards realising their vision.”
It is worth noting that in 2021, Shuaa Capital posted net profits worth AED 39.76 million, down 68% from AED 125.26 million in 2020.
