Dubai's Alabbar to Weigh Buying Into Venture Capital Firms
- Emaar chairman held talks with BECO Capital and MEVP
- Alabbar set up $1 billion fund with regional investors
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Dubai-based business-tycoon Mohamed Alabbar is weighing buying into venture capital firms in the Middle East to help kick start his $1 billion technology fund, according to people familiar with the matter.
Representatives for Alabbar held talks with several regional companies, including Middle East Venture Partners and BECO Capital, about either buying them entirely, joining as a co-investor or making a significant investment in the firms, the people said, asking not to be identified as talks are private. Final agreements haven’t been reached with any party and discussions may not result in a deal, they said.