Conglomerate Al Faisaliah is anchor investor for the newly launched Nuwa Capital, which is reportedly seeking $100m for its final close.

United Arab Emirates-based investment fund Nuwa Capital has launched with conglomerate Al Faisaliah Group as its anchor investor and strategic partner, and a targeted close of $100m according to Menabytes.

Nuwa Capital will invest in startups located in the Middle East and North Africa in addition to East Africa, Pakistan and Turkey. It is concentrating on the direct-to-consumer, financial technology, software-as-a-service, mobility and logistics sectors.

The fund is pursuing a model that involves the provision of more support for startups…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.