Mohammed Alzubi

UAE and UN at the Forefront of AI Enablement for Digital Transformation and Sustainable Development The UNDP and the UAE have launched the AI4SD platform, to accelerate progress toward the Sustainable Development Goals (SDGs) across the 22 Arab League member states. A key feature of the AI4SD platform is an open-source AI API, allowing developers and organizations to access AI models and tools for sustainable development projects. e& (formerly Etisalat) plays a crucial role in this partnership. They enhance initiatives like the Arab Knowledge Project, support financial inclusion projects in Egypt, and develop the Climate & Natural Disaster Crises (CNDC) Platform to improve climate resilience through AI. Together, this collaboration aims to empower policymakers and businesses while fostering sustainable development across the Arab states. Exciting times ahead for digital transformation! 🌍 This follows several other global initiatives, such as: . AI for the Global Goals by Google, providing $25m in grants to organizations leveraging AI for SDGs, . Cisco's AI Initiatives, which include a $1bn investment fund for developing secure AI solutions and launching the AI Unveiled series to empower organizations in crafting effective AI strategies. . The AI Hub for Sustainable Development, announced by the G7, promoting AI applications that address global challenges through collaboration, . Stream Ocean, employing AI for real-time monitoring of marine biodiversity, . Pano AI, utilizing AI technology to detect and classify wildfires in real time, All these initiatives highlight a growing commitment to harnessing AI for sustainable development and addressing pressing environmental challenges. #DigitalTransformation  #digitaleconomy #Telecom #AI #SustainableDevelopment #SDG https://www.ai4sd.org/

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Dear All, I am thrilled to share that I have recently relocated from Silicon Valley to Dhahran, Saudi Arabia and joined Plug and Play Middle East - a very exciting new chapter for me professionally and for us as a family of 4. Special gratitude for Saeed Amidi, Seena Amidi and Omeed M. for trusting me with this opportunity - and for many of my colleagues in the global Plug and Play Tech Center family who have supported me and become a part of my journey in the past 8 years - to name a few Sanam (Amidi) Amidhozour Michael Olmstead George Damouny Ivan Zgomba Alireza Masrour Sobhan Khani Phillip Seiji Vincent Candela FitzGerald de Suñer Miguel Bello García Allison Romero Marc Steiner Michelle Hanna John Kouzmenko - and everyone from the front of the line to the back office in Accounting, HR, Legal, Marketing and IT. You all are very special and I am (will be) forever grateful. Having spent the last 8 years immersed in the heart of global innovation in the Bay Area, even from that far, I have been witnessing for a while the tremendous positive change happening right here in Saudi Arabia. The Kingdom’s bold approach to innovation and progress is nothing short of remarkable, and I am excited to be part of this incredible transformation. Saudi Arabia’s Vision 2030 is built on three pillars that resonate deeply with me: 1. A Vibrant Society – Creating a rich cultural and social life for its people. 2. A Thriving Economy – Fostering a diversified economy driven by entrepreneurship and innovation. 3. An Ambitious Nation – Transforming the country through sustainable development and forward-thinking leadership. I am eager to leverage my background and experience in venture capital, entrepreneurship, and innovation to significantly contribute to the Vision 2030 goals. The opportunities here are boundless, and I am more motivated than ever to play a role in shaping the future of Saudi Arabia! Let’s connect and explore how we can collaborate to drive this exciting journey forward! #SaudiVision2030 #Innovation #Entrepreneurship #Transformation

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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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September 21 2024 – 5 Notable Articles To Read Article: OpenAI in Talks with UAE Investment Fund for $7B Fundraising Takeaway: MGX was launched this year by Mubadala Investment Co., a state-owned entity, and G42, a tech conglomerate partnered with OpenAI, which supplies AI services to businesses in the region. Microsoft, OpenAI’s largest supporter, also holds a seat on G42's board. Source: The Information Link: https://lnkd.in/dTc5r3cc Article: Danish Freight Firm DSV - Global Transport and Logistics Buys German Rival for €14.3B Takeaway: The deal makes the Danish company the world’s largest freight forwarder, with DSV surpassing private equity firm CVC in the race to acquire DB Schenker. Source: Bloomberg Link: https://lnkd.in/dFh_QCRb Article: Blackstone Said to Weigh Sale of $7B Consular Tech Firm Takeaway: Blackstone Inc. is exploring options, including the sale of its majority stake in VFS Global, a visa outsourcing and technology services company, following interest from potential investors, according to sources familiar with the matter. Source: Bloomberg News Link: https://lnkd.in/dkwebFta Article: Abu Dhabi’s Mubadala takes stake in Revolut Takeaway: Taking part in a share sale last month that valued the London-based fintech at $45B and earned at least $200M for its founder and CEO, Nik Storonsky. Source: Financial Times Link: https://lnkd.in/dcz4XJ9K Article: An ESG Backlash Erupts in Europe on World's Strictest Rules Takeaway: As valuations and competitiveness decline, companies are protesting, claiming that the U.S. is handling the climate issue more effectively. Source: Bloomberg Link: https://lnkd.in/d7GXi3jQ #news #business #research #ai

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Saudi Arabia’s venture capital landscape continues to grow with its reverberations reaching far continents. Global venture capital firms are capitalizing on the Kingdom’s expansive strategy, as evidenced by the state-owned Saudi Venture Capital Co.’s $30 million investment in a US-based investment firm.   SVC has pledged this significant investment in a private equity fund managed by the renowned US-based investment firm General Atlantic. The investment in the private equity fund by General Atlantic is part of SVC’s Investment in Funds Programme and an implementation of its strategy related to attracting top global fund managers to invest in Saudi-based companies as well as stimulating investment for later stages. #Saudiarabia #investment #fundraising #fundmangers #VentureCapitalists #GCC #Riyadh #VCs #GPs

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The sixth episode of Rally Cap VC's podcast is out 🗣️🎙️🔊 Amir Farha is a prominent figure in MENA VC, managing the largest solo-GP fund in the region [$54m]. He previously co-founded the first and largest early-stage VC firm in the Middle East [BECO Capital, $500m AUM]. Timestamps: (1:49) Building a second VC firm (3:02) What does 'strong founder' even mean? (4:29) Investing in underdogs (6:15) Aren't we all improvising? (7:05) The evolution of Amir 1.0, Amir 2.0, Amir 3.0 (11:18) Aren't VCs just monetizing access? (13:26) Raising $50m as a solo-GP (15:16) KSA/UAE/Egypt, too many startups, beyond the VC model (17:57) Unconventional founder moves in nascent markets (20:34) Unhealthy obsession: psychological cost of succeeding in VC?

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UAE-based fintech Ziina زينة has raised $22 million in a Series A funding round, led by US-based Altos Ventures along with other investors including FinTech Collective, Avenir, Activant Capital, Y Combinator, FJ Labs, Middle East Venture Partners (MEVP), and Jabbar Internet Group. Founded in 2020 by Faisal Toukan and Sarah Toukan, Ziina helps individuals send and receive payments through its app with just a phone number, no IBAN or Swift Code required. It launched its digital wallet in February 2022. The new round will fuel Ziina’s expansion beyond a #payments solution to providing end-to-end #financial services for businesses and consumers, starting with the soon-to-launch ZiiCard. In June 2021, Ziina, fresh from completing YC’s first cohort that year and securing a $7.5 million seed, launched its #fintech app to 20,000 #retail customers, allowing them to send and receive #money. Three years later, the Dubai-based startup, which now counts 50,000 retail and business customers after expanding its offerings to meet the needs of micro, small, and medium-sized #MSME businesses in the #UAE Full TechCrunch article in comments

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A Dubai-based fund-of-funds focused on backing emerging venture investors, has raised $5 million of the $10 million target for its debut fund. Amkan Ventures is connecting family offices in the Gulf region and emerging U.S.-based VCs — two groups unlikely to otherwise meet. A fund led by Female GP Raida Daouk El Jisr decided to raise a fund after helping a number of family offices and other institutions vet and invest in American venture firms and tech startups as a consultant and building out another prior employer's portfolio. #fundraising #investment #GCC #USfunds #venturecapitalists #limitedpartners #generalpartners #Funds #LPs #GPs #VCs #emergingfunds #fundmangergs

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Saudi Arabia Is Now the Mena Region’s Leading Nation in Ventuer Capital Fundraising Saudi Arabia's rise to the forefront of venture capital (VC) investment in the MENA region highlights a noteworthy evolution in investment dynamics. The kingdom's strategic efforts to become a hub for venture capital is part of its broader ambition to foster innovation, support startups, and nurture a vibrant and self-sustaining private sector. This shift can be attributed to several key factors: 1. Government Initiatives and Support: The proactive approach of the Saudi government, through the launch of various initiatives and by providing robust support via entities like the Saudi Arabian General Investment Authority (SAGIA) and the Public Investment Fund (PIF), has significantly enhanced the attractiveness of Saudi Arabia as a venture capital destination. The PIF has been particularly influential, channeling substantial investments into tech and innovation both locally and globally. 2. Regulatory Reforms and Infrastructure Development: Saudi Arabia has undertaken comprehensive regulatory reforms aimed at streamlining business operations, safeguarding investors, and improving the overall business climate. Investments in infrastructure, alongside the creation of special economic zones and tech parks offering attractive incentives, have further bolstered the kingdom's appeal to venture capitalists. 3. Focus on Digital and Technological Transformation: The Saudi government is heavily invested in digital and technological transformation, targeting a digitally proficient population and capitalizing on high internet usage rates. This, combined with efforts from entities like the National Digital Transformation Unit and the Saudi Data and Artificial Intelligence Authority, underscores the kingdom as a burgeoning market for digital products and services, aligning perfectly with global investment interests in technology and innovation sectors. These strategic moves not only place Saudi Arabia in a prime position within the VC ecosystem in the MENA region but also signify the kingdom's commitment to economic diversification and digital leadership in the global arena. By Salem Bagami Managing Director 2080 Ventures Email: [email protected] Website: www.2080.ventures Yasir Al Rumayyan Raid Ismail Roberto Croci Ahmed Alawaji Ibrahim Almojel Enrico Milovan Amjad Ashri Mohammed Albalaihed, CFA Dimi Velikov Mohammed Aldabbagh, CFA, CMA Maan Al Maddah Abdulrahman Alsufiany Sun Choi 최성안 Timur Daudpota #saudiarabia #ventuercapital #vchub #sagia #PIF #innovation #digitaltransformation #thegarageالكراج

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BECO Capital: Historic Exit with Property Finder! BECO Capital, a leading early-stage venture capital firm in the UAE, celebrates a landmark achievement with a 2.41x Distribution to Paid-In (DPI) capital ratio from its Fund I, setting new benchmarks in the #MENA region. This achievement underscores BECO Capital's commitment to supporting tech entrepreneurs in the region and delivering top quartile returns to #investors. Dany Farha, Co-Founder and Managing Partner at BECO Capital, highlights their pleasure in investing in Property Finder and praises founder Michael Lahyani's entrepreneurial vision. Reflecting on the collaboration, Michael Lahyani credits BECO Capital for their decisive support, emphasizing the potential for innovative companies in the MENA region to achieve significant growth and create returns that fuel the entrepreneurial ecosystem. This milestone not only demonstrates tangible gains but also showcases the maturing venture capital ecosystem in MENA, enhancing its global stature as a leading centre for technology and innovation. Congratulations to BECO Capital and Property Finder on this historic achievement! For more information: https://lnkd.in/dKyNubMY #VentureCapital #MENA #TechInvestment #Innovation #Entrepreneurship

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Are #secondaries the solution to #MENA's Exits? In a recent conversation with Basil M. from Key Capital, we discussed the emerging potential for IPOs, secondaries and exits in the market. Secondary funds, which target shares in early stage investment rounds at a discount, can stimulate market participation by providing liquidity to existing shareholders without diluting company equity. These investments enable early investors to exit, allowing founders to clean up their cap table and receive a potential fresh injection of capital. Of course, the secondaries market in the #MENA region is still emerging, but given the global increase in secondary investments, perhaps it’s not too long before it becomes more commonplace in the region. Check out my full conversation with Basil M. for more MAGNiTT insights: https://lnkd.in/gT5X5Q7D PS: Great recent pod from the Unreasonable Podcast discussing just this and the impact in the South East Asian Venture space. Well worth a lisen! CC: Hian Goh, Vishal Harnal and Michael Blakey #webinar #exits #IPOs #venturecapital #startups

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🎙⚡️ Excited to share Episode 48, our latest podcast with Kareem Saleh, Founder and CEO of FairPlay AI, the world's first Fairness-as-a-Service company backed by leading venture investors Nyca Partners, Fin Capital, TTV Capital. Financial institutions use FairPlay AI’s APIs to embed fairness considerations into their marketing, underwriting, pricing, and collections algorithms as well as to automate their fair lending compliance. 🎧 Listen to the entire episode here: https://lnkd.in/diAJsUk4 🎙⚡️In this insightful conversation, we discuss the challenges and triumphs of building a technology-driven solution to one of today's most pressing issues in financial services. Tune in as we cover Kareem’s journey from growing up in the vibrant and diverse city of Chicago, to helping negotiate the Paris Climate Agreement serving in the Obama Administration, and before diving into AI and machine learning. 🎙⚡️Kareem's story is a compelling blend of personal experience and professional achievement. Background and Early Influences Raised in Chicago by North African immigrant parents, Kareem was deeply influenced by the city's academic and political environment. His early exposure to international events and technology sparked his interest in economic development and civil rights. Early Career and Ventures Kareem's initial foray into technology included working on an AI startup aimed at preemptive search queries. This experience, combined with his work at the U.S. State Department on the Paris Climate Agreement, solidified his belief in AI's potential to drive social change. Commitment to Fair Lending Witnessing his mother's challenges in securing a loan as an immigrant inspired Kareem to address financial disparities. He discovered that many lending models were biased against minorities and women, which motivated him to seek fairer credit underwriting solutions. Founding Fairplay AI Kareem co-founded FairPlay AI to eliminate biases in credit underwriting using advanced algorithmic fairness techniques. A notable success included helping a major mortgage originator increase approval rates for applicants without increasing risk. Vision and Team Building Kareem stresses the importance of a diverse and high-performing team, hiring for potential and fostering trust. His vision for FairPlay AI is to create inclusive financial systems, ensuring fair credit decisions and promoting social progress. I hope you enjoy the conversation as much as I did! 🙏🏼🎧💡

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🌍 Are Foreign Investors Regaining Interest in MENA? 🚨 That's the question we've been exploring at MAGNiTT with our latest piece. Early 2023 saw major Silicon Valley players like Andreessen Horowitz, Sequoia Capital, Tiger Global Management, and IVP visiting regional sovereign wealth funds, signaling potential interest. However, that interest didn’t fully materialize last year in the form of investments. This year tells a different story. In 2024, #MENA has experienced a 32% YoY increase in investor participation in the first half, driven largely by international investors. While late-stage investments remain cautious, these investors are contributing with smaller tickets. 🇦🇪 🇸🇦 Unsurprisingly, the #UAE and #SaudiArabia are the prime destinations for global investors in MENA. The UAE stands out, accounting for about 57% of the country's investors in H1'24. While familiar names like 500 Global and Antler continue to make big waves in the region, we've also seen new players such as India’s Cogitent Ventures, the UK’s Quadri Ventures, and Denmark’s A.P. Moller Capital making their first regional investments. MAGNiTT’s latest article dives into the numbers, explores the evolution, and discusses the main reasons behind this trend and what to expect next. Check it out here: Read More https://lnkd.in/dxqJ9iXR Got any guesses on which big leagues are eyeing their entry into the region? Share your thoughts below! 👇 #MENA #Global #InvestmentTrends #VentureCapital #Funding #UAE #KSA #Investors #Investment #Innovation

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"Saudi Arabia is second with six VC funds – Raed Ventures, Saudi Aramco's Wa'ed Ventures, Vision Ventures, Impact46, Seedra Ventures and Oqal – with a total of 67 investments. The UAE has two: Abu Dhabi's Shorooq Partners and Dubai's Global Ventures, with a combined 16 investments. The region falls behind others like Asia which has 786 and Europe with 1,227 VC funds. The US is the runaway leader with 2,298 – with the top seven VCs alone surpassing the Middle East's total. Data on how much these VCs are investing in AI is not clear, yet looking at the regional number of AI start-ups serves as a telling indicator of the sector's growth. There are 1,843 AI start-ups in the Middle East, with a total of 1,773 funding rounds that have raised $12.9 billion, data from industry tracker Crunchbase shows. In comparison, the whole of Europe has 9,994 AI start-ups with 10,598 funding rounds attracting $37.8 billion, according to the San Francisco-based start-up data platform. The top 10,000 AI start-ups in Asia have conducted 8,989 rounds that have raised $105.3 billion, while those in the US have had 17,320 rounds attracting $211.5 billion, it said. However, according to industry tracker Tracxn, there are an estimated 23,209 AI start-ups in the US."

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The past few years have witnessed the growth of Saudi Arabia's dynamic venture capital and private equity ecosystem MAGNiTT team has released 2019-2023 Saudi Arabia Private Equity Report, sponsored by SVC. Farah El Nahlawi shares key insights and highlights from this report in an interview with Al Arabiya News Channel. You can watch the full interview here: https://lnkd.in/eg9unk7M #SaudiArabia #Saudi2030 #Vision2030 #PrivateEquity #VentureCapital

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Exploring Venture Capital Valuations in MENA: Jada Fund of Funds Report Valuing portfolio companies is a critical aspect of the venture capital process, filled with challenges, especially in the context of startups in emerging markets. With the collaboration of Jada Fund of Funds, our newly launched report delves into the methodologies used by venture capitalists and provides insights gathered from seasoned fund managers and investors across the MENA region. Key Valuation Methodologies 1. Discounted Cash Flow (DCF) Analysis: - DCF Method: This involves estimating the company's future cash flows and discounting them back to their present value using an appropriate discount rate. - Challenges: In the case of startups, projecting future cash flows can be highly speculative due to the limited historical data and market volatility. 2. Comparable Company Analysis: - Comps Method: This method involves valuing a company based on how similar companies in the industry are being valued, often using multiples such as Price-to-Earnings (P/E) or Enterprise Value-to-EBITDA (EV/EBITDA). - Benefits: It helps to benchmark valuations against market standards. - Drawbacks: It might be difficult to find truly comparable companies. 3. Precedent Transactions: - Transaction Method: This approach looks at similar companies that have been recently sold or funded and uses these transactions to estimate value. - Advantages; Provides real-market benchmarks. - Limitations: Market conditions at the time of past transactions might differ from the current context. 4. Venture Capital Method (VC Method) - VC Method: Commonly used in early-stage investments, this method involves projecting an exit scenario, estimating the terminal value, and discounting it back to the present considering the risk. - Simplicity and Relevance: It is straightforward and tailored for high-risk environments but relies heavily on assumptions about future exits. 5. Modified Economic Value Added (EVA): - EVA Method: Focuses on the economic profit of the company by assessing returns in excess of the company’s cost of capital. - Usefulness: Particularly useful in assessing long-term value creation beyond accounting profits. Insights from Experts Challenges in the MENA Region - Limited Historical Data: Startups in emerging markets often don’t have a long operating history, making traditional valuation methods less reliable. - Market Volatility: The dynamic and often volatile nature of emerging markets adds another layer of difficulty in making accurate projections. - Regulatory Environment: Varying regulations across different countries in the MENA region can also impact valuation. By addressing these challenges and leveraging a mix of valuation methodologies, venture capitalists are better equipped to make informed investment. Report by Claudia Zeisberger Repost by Salem Bagami #VC #valuation #startups #MENA #JadaFund

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Now live: Our market map of the World Chain ecosystem. The part two of Web3 x AI written by my colleague Abdul Al Ali is a must-read for founders tackling digital human identity in the frontier of an AI world. Abdul explores how World Chain, #SamAltman’s human-first blockchain, is setting a new standard by bridging on-chain and off-chain identity, creating a blockchain that enhances verified human engagement in an AI-dominated world. Why It Matters for Web3 Builders: As AI agents and bots continue to blur online rap and synthetic interactions, authentic digital identity is more important than ever. Proving real personhood forms the foundation for our AI future. World Chain’s infrastructure, grounded in “Proof of Personhood,” is redefining what it means to be human on the blockchain. By prioritizing real users, World Chain paves the way for sustainable and impactful community interactions. Key Highlights from the Market Map: Combating Deepfakes: The biometric World ID feature safeguards authenticity by verifying creators, a strong countermeasure to rising deepfake risks. Ensuring Authentic Airdrop Distribution: By filtering bots from airdrop distributions, World Chain reinforces genuine community engagement and ecosystem trust. Human-First Infrastructure: Unlike blockchains designed exclusively for AI, World Chain strikes a balance between human and AI interaction, protecting the integrity of verified identities. For founders pioneering at the intersection of #Web3 and #AI, our blog insights on World Chain’s human-centric approach offer a valuable perspective on the future of digital identity. #WorldChain https://lnkd.in/emDVqcy7

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In the dynamic realm of business, #SaudiArabia’s startup ecosystem stands as a beacon of progress. Fuelled by the #Vision2030 initiative, the Kingdom is fervently diversifying its economy, with a strategic emphasis on nurturing a vibrant startup culture. This transformative journey is reshaping Saudi Arabia’s economic landscape and presents extensive opportunities for entrepreneurs and investors worldwide. In a significant milestone, Saudi Arabia’s startup ecosystem secured the top spot in regional venture funding activities in 2023, amassing a record-breaking $1.38 billion in capital. This achievement positioned the Kingdom as a frontrunner in venture capital funding across the Middle East and North Africa, surpassing the $1 billion mark for the first time, as per MAGNiTT’s Saudi Arabia FY2023 report. During the year, the funding for Saudi Arabia’s startup ecosystem experienced a 33% increase from the $987 million raised in 2022, indicating a robust growth trajectory. Furthermore, the Kingdom’s share of total venture capital funding in the MENA region also substantially rose, from 30% in 2022 to 52% in 2023. Notably, the Kingdom attracted $879 million in mega-rounds—individual funding deals surpassing $100 million—reflecting strong investor interest in the region’s startup scene. #Deeptech #Investments #fundrasing #funding #funds #startups #Saudiarabia #PIF #familyoffices #VCs #privateequity #MENA #GCC

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