UAE firm launching $100m sharia-compliant VC fund to invest in Gulf, Indian companies
Emirati company Gulf Islamic Investments (GII), which keeps its business in line with sharia (Islamic law), is launching a $100m venture capital fund to finance Gulf and Indian companies.
The new facility, GII Debt Fund-I, will focus on Gulf companies in “resilient sectors” such as healthcare, education, logistics and technology and on Indian companies planning to expand in the Gulf and elsewhere, English language daily Khaleej Times cited a GII statement as saying.
Debt funds are investment undertakings chiefly consisting of fixed income investments.
Venture capital investments in the Gulf reached a “record” $2.6bn in 2021 with the United Arab Emirates and Saudi Arabia “leading with major reforms and policy innovations”, the newspaper said in citing the GII statement.
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