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  • Saudi Arabia NEOM Investment fund to hold 6% in Italy’s Technogym

    Saudi Arabia NEOM Investment Fund (NIF) will hold 6% of Technogym (TGYM.MI) share capital after an 111-million-euro ($120.83 million) investment and intends to be a long-term minority shareholder in the Italian fitness-equipment maker, it said on Friday. In a reverse accelerated bookbuilding (RABB) operation on Thursday, NIF bought 8.8 million shares at 9.20 euros each from other investors and entered a derivate solution for the purchase of a further 3.3 million ordinary shares, the statement said.

  • Saudi Arabia High Tech Investment $200 million Fund Launched

    Crown Prince Mohammed bin Salman unveiled a new strategy for King Abdullah University of Science & Technology (KAUST), where he chairs the Board of Trustees. The new strategy aims to transform science and research into economically profitable innovations through a focus on national priorities, including health, environmental sustainability, renewable energy, and future economies. The strategy encompasses three major initiatives:

  • Saudi Arabia launches $200m fund for early investment in high-tech companies

    Saudi Arabia’s Crown Prince Mohammed bin Salman on Sunday launched a SR750 million ($200 million) fund for early investment in local and international high-tech companies, the Saudi Press Agency reported. The initiative is part of a strategy announced for the King Abdullah University of Science and Technology. It aims to transform research into economically productive innovations by focusing on the national priorities for research, development, and innovation. The key areas include health and wellness, sustainable environment and essential needs, energy and industrial leadership, and economies of the future.

  • Middle East Fintech Flourishes with US$2 billion Investment Wave

    This boom can be attributed to the growing tech-savviness of consumers who are enthusiastically embracing digital banking services and non-cash payment methods. The steadfast commitment of Middle Eastern government authorities, including central banks and regulators, has also been instrumental in nurturing the fintech sector. These forward- looking institutions have facilitated the establishment of vital infrastructure, such as accelerators, incubators, and fintech hubs, providing a fertile ground for fintech innovation to flourish.

  • Middle East Fintech Flourishes with US$2 billion Investment Wave

    A recent report based on fintech research conducted by red_mad_robot has unveiled a remarkable surge in the Middle East’s fintech industry, signalling unprecedented growth and lucrative investment prospects. Over the span of the last three years [2021-2023], fintech startups in the Middle East have impressively secured a staggering US$2 billion in funding through an tally of 140-160 deals. The lion’s share of this investment, accounting for 40-43 percent, has been captured by the United Arab Emirates [UAE].

  • Saudi Arabia signs deal to develop investment in automotive manufacturing and autonomous vehicle technology

    Saudi Arabia has signed a memorandum of understanding (MoU) on Tuesday to develop the investment in the automotive manufacturing and the autonomous vehicle technology. The MoU was signed between the Kingdom's Ministry of Investment and two companies Rigel and Clevon. The Ministry has stated that this MoU considered as an important step and a milestone in shaping the future of innovation in Saudi Arabia.

  • 11 Climate Tech Investments Where VC Funding Is Ramping Up

    For early-stage investors, solar panels and electric vehicles are so 2011. By now these are relatively mature products built on the work of previous decades. They’re doing the job they were built for: gradually replacing fossil fuels. In fact, solar and wind are cheaper than coal in most of the world today. That means market forces will turn power grids a deeper shade of green with each passing year, and VCs can focus on electrifying everything else.

  • 11 Climate Tech Investments Where VC Funding Is Ramping Up

    The overwhelming majority of finance that finds its way into climate tech still goes into transport and energy startups. But looking at the deal count, it’s easy to pick out the pattern of rising interest in climate-tech startups that focus on green buildings, climate analytics, carbon capture and more.

  • Doral Energy-Tech Ventures: “We are thrilled to make investments with Saudi Arabia’s

    "I'm thrilled to say that we make investments with Saudi Arabia's Aramco's venture arm. Obviously there is no peace agreement between Israel and Saudi Arabia yet and hopefully it will happen soon, but in the meantime we understand that climate change has no boundaries and we have the privilege to invest with them and grow companies in these spaces," Roee Furman, Managing Director of Doral Energy-Tech Ventures told CTech at the Mind the Tech London conference on Tuesday.

  • SoftBank Reports $23 Billion Loss as Tech Investments Plummet

    The Japanese conglomerate SoftBank reported on Monday its largest-ever quarterly loss, $23.4 billion, driven by poor performance of its flagship tech investments and a weak yen. It was the second straight quarter of enormous losses for the company, which has been staggered by broad weakness in global stocks, causing paper losses in the company’s portfolio of publicly traded tech giants as well as markdowns on its holdings in hundreds of unlisted companies.