Emirati company Gulf Islamic Investments (GII), which keeps its business in line with sharia (Islamic law), is launching a $100m venture capital fund to invest in Gulf and Indian companies.
The new facility, GII Debt Fund-I, will focus on Gulf companies in “resilient sectors” such as healthcare, education, logistics and technology and on Indian companies planning to expand in the Gulf and elsewhere, GII said in a statement, which was reported by Dubai-based English language daily Khaleej Times and other media outlets in the Middle East and North Africa.
Debt funds are investment undertakings in which the core holdings are fixed income investments.
Venture capital investments in the Gulf reached a “record” $2.6bn in 2021 with the United Arab Emirates and Saudi Arabia “leading with major reforms and policy innovations”, the statement said.
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