The Gulf –based capital firm was created one year ago, and has raised $75M that will be used to invest in start-ups across the Middle East.
Nuwa Capital, which is based in both Dubai and Riyadh has just finished the first round of investment in its Nuwa Ventures Fund 1 and Khaled Talhouni, Managing Partner at the firm is confident that the company will reach their $100M target this year. The Gulf has been a key market for tech firms as Gulf investors and governments across the region look to steer their economies away from oil.
Most of the $75M funds came from Saudi-based family businesses and corporate groups, including the Al Faisaliah Group. Nuwa Capital has commented that the funds will be used to target areas of the market that include software as a service and technology providers for food & beverage and health care industries.
