Zain Ventures will provide funding for digital innovations in electronic services, and its first two investments are in Pipe and Swvl.

Kuwait-based telecommunications firm Zain Group has set up a corporate venturing unit and struck its first deals.

Zain Ventures will invest in digital innovations in electronic services. Its parent company had already committed to venture capital funds for firms such as Colle Capital Partners, Wamda, EarlyBird Venture Partners and Middle East Venture Partners.

The unit’s first deals are Pipe the US-based developer of a digital trading platform for recurring revenues, and Swvl, a US-headquartered mobility service provider for mass transit…

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James Mawson

James Mawson is founder and chief executive of Global Venturing.