MEC Ventures, which was co-founded by Al Salam Bank-Bahrain, will target financial technology among other areas as it invests in the Middle East and North Africa region.
Financial services firm Al Salam Bank-Bahrain is partnering China-based venture capital firm MSA Capital on a $50m venture capital fund called MEC Ventures, Reuters reported yesterday.
The Bahrain-headquartered vehicle will make investments in Middle East and North Africa (MENA)-based startups operating in the financial technology and e-commerce sectors, in addition to those developing technologies in areas such as artificial intelligence, big data, cloud computing, networking and logistics.
MEC Ventures is being launched two years after Bahrain introduced the Investment Limited…
