Walied Albasheer

🇮🇳 In Action ➔ Here's the top 10 #IndianTech developments Tahseen Consulting is following today 🤖 Companies get second chances for #IPOs amid buoyant markets 📈 #Startup fundraising rises 59% YoY in October ⚖️ Swiggy gets over $15B bids for #IPO anchor book; oversubscribed 25x 📱 #Starlink, Amazon asked for security compliance to provide #satellite services 💰 #Payments firms scrap user incentives due to funding crunch 🏢 Govt eases power usage effectiveness requirements in #AI #GPU tender after pushback    🤝 #TamilNadu sees surge in manufacturing investments 📡 Bharti Telecom Limited to raise $1.3B bond issuance 🌐 #Gaming industry ups game with homemade 'AAA' products 🏦 Meesho posts 33% increase in revenue, achieving positive cash flow 👋 With the #India and #MENA tech ecosystems converging, you can follow Tahseen Consulting and click below to get our extended coverage of the top tech developments you need to know about to start your day. https://lnkd.in/gBXBCZsN

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Is MENA the New Growth Hub? The Middle East and North Africa (MENA) region is experiencing remarkable growth, attracting significant foreign direct investment and fostering a thriving startup ecosystem. There are many reasons why we can say YES: ➡️ Booming FDI: In 2022, FDI inflows reached approximately $37 billion, with projections exceeding $40 billion by 2025. Key sectors attracting investment include technology, renewable energy, and infrastructure. ➡️ Flourishing Venture Capital: Venture capital investment exceeded $3 billion in 2022, projected to reach $4 billion by 2025. The UAE and Saudi Arabia are leading this surge, fueling a dynamic startup ecosystem. ➡️ Thriving Startup Scene: Over 7,500 startups currently operate in MENA, with significant funding rounds across various sectors. 🔵 Top Sectors: Fintech leads the way, securing over $1.3 billion in funding in 2022, followed by e-commerce, health tech, and edtech. 🔵 Unicorn Growth: The number of unicorns (startups valued at over $1 billion) is also on the rise, with nearly 19 as of 2023. ➡️ Renewable Energy Investment: MENA is making significant strides in renewable energy, with projected investments of $100 billion by 2030, primarily in solar and wind energy projects. ➡️ Young and Dynamic Population: Over 60% of the MENA population is under 30, creating a vibrant and innovative entrepreneurial culture. The numbers speak for themselves: MENA is not just emerging; it's exploding onto the global stage as a powerhouse of innovation and investment. ⚠️ I'll be in Dubai and Riyad in Feb. Please connect if you would like to meet! #MENA #Growth #Investment #Startups #Innovation #RenewableEnergy #Fintech #EmergingMarkets

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Saudi venture capital sector expanding exponentially Saudi Arabia's venture capital sector is booming, and global venture capital firms are taking notice. Recently, Saudi Venture Capital Co. invested $30 million in a private equity fund managed by General Atlantic, a US-based investment firm with a portfolio of $84 billion in assets under management. This investment is part of SVC's Investment in Funds Program and is aimed at attracting top global fund managers to invest in Saudi-based companies, stimulating investment for later stages. With this move, the Saudi venture capital landscape is set to see significant growth. Post by Nour Edin El Shaeri Repost by Salem Bagami Chief Executive Officer Digital Transformation Company & Managing Director 2080 Ventures Email: [email protected] Website: www.2080.ventures https://lnkd.in/d6YK7Hfp Nabeel Koshak Sun Choi 최성안 Timur Daudpota #SaudiVentureCapital #GlobalInvestment #GeneralAtlantic

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Saudi Arabia’s “Project Transcendence,” a $100 billion AI investment, aims to establish the Kingdom as a leading tech hub. Beyond infrastructure, it’s about building a full AI ecosystem—data centers, startup support, and talent recruitment. While facing regulatory and talent hurdles, Saudi Arabia’s vast resources enable it to tackle these challenges. This shift from an oil-based economy to a tech-driven future could create jobs, enhance public services, and elevate the Kingdom’s influence on the world stage. SovAI Systems "SovAI" Canvass AI

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💡 In my recent interview on Asharq BusinessWeek on Bloomberg Alsharq hosted by Nadia Bsat, we discussed several important topics regarding AI infrastructure in the region and its economic impact. Here are the key points I shared: 1️⃣ Infrastructure required for AI development: Saudi Arabia and the UAE are investing in advanced data centers, data management policies, and high-speed networks. For example, SDAIA is setting policies to ensure AI development aligns with ethical and Islamic values. SDAIA | سدايا 2️⃣ Guarantees required to ease U.S. restrictions on chip exports: Both countries need to provide guarantees around the safe use of chips and cooperate with U.S. companies to ensure that advanced technology doesn't fall into unwanted hands. 3️⃣ Impact on relations with China: Despite the UAE being a BRICS member, it has maintained a balanced relationship with both China and the U.S., fostering bilateral relations without compromising economic interests. 4️⃣ AI's contribution to economic transformation: Saudi Arabia aims for AI to contribute 12.5% to its GDP by 2030, while the UAE targets 14% by 2031. Both countries are heavily investing in digital infrastructure to boost efficiency and productivity. 5️⃣ Opportunities for tech companies in Gulf markets: The UAE and Saudi Arabia represent new and crucial markets for companies like Nvidia to offset losses caused by U.S. restrictions on China. The Gulf market is expected to compensate for part of the lost market share. 🌍 The digital transformation in our region is steadily moving towards enhancing innovation and economic diversification. I look forward to hearing your thoughts on these developments and having a shared conversation about the future of AI in our region! 🤖🚀 Asharq Business اقتصاد الشرق

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"For Mubadala’s next act, Ajami is seeking to milk his tech connections to put more money directly into startups. At the same time, Mubadala is increasingly using its clout to encourage Western companies and investors to deepen their ties to the UAE’s tech ecosystem, part of the country’s broader push to diversify its economy away from oil. For Ajami, 49, the goal is for Mubadala—a term that means “exchange” in Arabic—to one day be mentioned in the same breath as Sand Hill Road’s most vaunted investment firms. “The way founders speak about Sequoia—why not, 20 years from now, won’t they speak that way about Mubadala?” asked Ajami. Ajami has a ways to go before he gets Mubadala there. Mubadala has stumbled badly in Europe as it has tried to employ a strategy similar to the one it used to break into the U.S. The companies it has backed in Europe have performed so poorly that Mubadala has put Jonno Elliott—who joined the firm in 2022 after leading VC investments at Virgin Management Ltd.—in charge of salvaging its portfolio of companies from the region, according to a person who spoke to Elliott. Among some European investors and founders, it has developed a reputation for aggressive tactics that could impact its ability to invest in top European companies in the future. And while plenty of tech investors speak highly of Mubadala, many of them are eager to curry favor with the deep-pocketed firm so it continues to invest in their funds, especially in the current dismal fundraising environment for VC firms. Privately, after singing the praises of Mubadala as a limited partner, many venture capitalists have also said its direct investments in startups don’t carry the weight of other investors’ bets. Sovereign wealth funds just don’t have the track record of picking winners that VC firms do, those critics say. Still, Mubadala has had some notable successes. Ajami and his lieutenants have helped it buy shares in buzzy companies like SpaceX, Waymo, Klarna, Brex, Chime, pharmaceuticals company Recursion and AI infrastructure company Crusoe Energy Systems, among others. Mubadala Capital, the VC and private equity arm of the sovereign wealth fund, oversees a $24 billion pool of capital with 180 employees spread across several offices, including in London, New York and San Francisco, which hosts a tech team they first established in 2017. Mubadala is also continuing to plow money into other VC funds. Its portfolio includes Altimeter Capital Management, Greenoaks Capital, Iconiq Capital, Dragoneer Investment Group, 8VC, Marcelo Claure’s Bicycle Capital, DCVC, Haun Ventures, Arch Venture Partners, Clocktower Group, Radical Ventures and a handful of emerging managers, like a new $30 million seed fund called Nebular, according to several people familiar with these funds." https://lnkd.in/gnyGdbg3

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The UAE is rapidly advancing its position as a global economic powerhouse through its Comprehensive Economic Partnership Agreement (CEPA) strategy. Introduced as part of the visionary "Projects of the 50" initiative, CEPA aims to attract $150 billion in foreign direct investment by 2031 and transform the UAE into one of the world's top ten FDI destinations. CEPAs provide an integrated economic environment that yields extensive advantages for businesses. This includes significant reductions in import and export duties, streamlined regulations, and minimized paperwork, and broader access to affluent markets in partner countries. The UAE has signed agreements with many countries, demonstrating a commitment to broadening its economic influence. This strategy opens up opportunities for businesses within the UAE, easing access to new markets and reducing trading costs. It also creates a stable and welcoming business environment for international companies seeking to enter the UAE, thereby facilitating easier operations in a thriving economic landscape. The impact of these strategic partnerships is set to redefine business dynamics not only in the Middle East but globally. #UAE #CEPA #Business #Trade #Investment #Expansion #GlobalTrade #EconomicGrowth #ForeignInvestment #InternationalBusiness #TradeAgreements #EconomicDevelopment #MarketAccess #InvestmentOpportunities https://lnkd.in/dt4J8eaT

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Saudi Venture Capital (SVC) announced its latest investments in two venture capitals supporting startups in Saudi Arabia and the MENA... #venturecapital #veteranventures

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Summary: Despite Saudi Arabia's history of human rights abuses, there is a growing interest from U.S.-based investors to invest in startups in the Middle Eastern nation. General Catalyst is planning to invest in a fintech startup, Lean Technology, and other firms such as Coatue Management and Andreessen Horowitz have recently backed Saudi Arabian startups. Key takeaways: Despite concerns about the country's human rights record, some U.S. investors are showing a willingness to invest in Saudi Arabian startups, potentially driven by the country's large and growing market. General Catalyst investment in Lean Technology is a significant step in this trend, as it is the firm's first investment in a Middle Eastern nation. Other U.S. firms, such as Coatue Management and a16z, have also recently backed Saudi Arabian startups or expanded their presence in the country through investments in related industries (such as co-living). Counter arguments: There may be ethical concerns about investing in a country with a record of human rights abuses and suppressing dissent. The motivations behind these investments may also be driven by the goal of gaining access to the huge Saudi Arabian market, rather than solely supporting the growth of the country's startups. #venturecapital #vc #venture #startups

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The MENA Investment Boom Is this the next Silicon Valley? The MENA region is bridging tradition and innovation, becoming a global leader in redefining investment models. As an investment researcher, here’s what stands out: 1. Family Offices Fueling Startups: Private capital from family offices is driving growth, with Saudi Arabia and the UAE contributing 79% of non-MEGA deal funding in H1 2024. 2. Unicorn Boom: MENA startups raised $768M in H1 2024, with sectors like fintech, AI, and e-commerce leading. Fintech, in particular, is thriving in underbanked markets. 3. Government Support: Initiatives like Saudi Vision 2030 and UAE’s NextGenFDI are creating a fertile environment for startups to scale and attract global investors. 4. Global Attention: Investor participation grew 30% YoY in 2024, with international VCs eyeing the region for its competitive valuations and untapped opportunities. MENA is rewriting investment success stories, are you ready to be part of this transformation? #MENAInvestment #VentureCapital #Unicorns #MiddleEastTech

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Goldman Sachs is making history as the first Wall Street bank to comply with Saudi Arabia's ultimatum for foreign firms to set up their Middle Eastern base in the kingdom. The investment bank has received a license from the Ministry of Investment to establish its regional headquarters in Riyadh. While the number of employees moving to Saudi Arabia and the extent of Goldman's regional operations in the kingdom are still unclear, this move demonstrates the bank's commitment to expanding its presence in the region. #Saudiarabia #GCC #Riyadh #Wallstreet #GCC #assetmanagmnet #fundmanagment #investment #fundraising #privateequity #Venturecapitalits

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MENA Q1 2024 Startup Funding Overview Startups in the MENA secured a total of $429 million in funding across 129 deals. SaaS, fintech, and e-commerce continue to lead the way in terms of sectors attracting investment. The top 3 countries by funding volume: Saudi Arabia: Following LEAP 24, Saudi startups raised $198 million across 25 deals. This highlights the importance of attending conferences, speaking at events, and building your network. UAE: 12 startups raised $39 million. Egypt: 8 startups raised around $7 million. The largest funding round was a $35 million pre-seed round for Tumodo, a Dubai-based business travel platform.

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The UAE is likely to compare its technological progress with Saudi Arabia, which is also eager to stake a leadership claim in this area. Although the UAE is in a leading position, Riyadh has said it will invest at least US$140bn in AI through subsidiaries owned by the Public Investment Fund and oil giant Aramco. Prominent companies, such as Amazon Web Services and the Chinese surveillance firm Dahua Technology, have announced sizeable investments in data centres and manufacturing facilities for AI technology in Saudi Arabia. Like the UAE, Saudi Arabia has indicated its preference for partnering with the US, but it is also investing in Chinese generative-AI start-ups to rival established US counterparts. This approach will thus serve as a counter-example to Emirati leaders, who believe that closer cooperation with American firms will be more valuable than retaining access to cutting-edge Chinese technology.

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