GLOBAL: Shariah-focused Shorooq launched a US$200 million Late-Stage Growth Fund to invest in the GCC region’s underserved late-stage and pre-IPO capital opportunities. The fund is backed by Qatar Investment Authority with other sovereign and institutional investors from the GCC and Asia. Shorooq said this fund aims to support “outstanding companies in our markets that have been stuck in the growth capital ‘valley of death’, scaling revenue and impact – but not yet ready for public markets.”
Separately, the expansion of QIA’s Fund of Funds program with an additional US$2 billion bringing the total capital commitment to US$3 billion, sees investments in another four outfits. They are VC firms Greycroft, Ion Pacific, Liberty City Ventures and SpeedInvest.
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