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Shorooq Partners

Shorooq Partners News

The sale of 'everything app' Careem to Uber for $3.1 billion has distorted the mean value of Mena VC exits

Mena VC exit route remains uncertain in young sector

The Mena region’s venture capital industry has blossomed over the past decade as firms have raised $14.5 billion from investors since 2015 and spent a similar amount buying into early-stage companies over the same period. Yet returns on these outlays remain uncertain, and the sector is still in its infancy. From 2015 to September 30 […]

People speak in the lobby of the Dubai Financial Market. Strict IPO rules mean loss-making startups cannot go public

Tough IPO rules deter UAE tech startups from listing

The UAE’s burgeoning startup sector has helped it become a centre for tech innovation, yet almost none of these fledgling companies have gone public due to stock market regulations. Since 2021 the Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX) have welcomed a flurry of initial public offerings as part-privatised government-related companies diversify […]

Metaverse

Gulf investors back $20m funding for ‘YouTube of the metaverse’

Los Angeles-headquartered social media startup VUZ, which describes itself as ‘the YouTube of the metaverse’ has raised $20 million from a range of Gulf-based investors and aims to use the new funding to expand into Asia. Founded in 2017, VUZ also has offices in Dubai and Riyadh, and is a social app which allows users […]