The venture capital landscape in the United Arab Emirates is witnessing significant momentum, as evidenced by the successful closure of Shorooq Partners’ latest investment vehicle, Bedaya Fund II. Originally targeting a fund size of $150 million, the firm has surpassed expectations by closing the fund at an impressive $160 million, indicating a substantial oversubscription from investors.
Yousef Albabtain, who leads the Saudi Arabian division of Shorooq Partners, has acknowledged a notable resurgence in the firm’s deal flow. The venture capital firm is poised to strategically deploy the newly raised capital, signaling robust confidence in the potential of the region’s startup ecosystem.
“UAE-based venture capital firm Shorooq Partners has recently closed its Bedaya Fund II with an oversubscription, at $160 million against its original target of $150 million.”
With the fresh influx of investments, Shorooq Partners is committed to nurturing innovative ventures and contributing to the dynamic economic landscape within Saudi Arabia and the broader Middle East region.