Gulf Fund Raises $75 Million for Mideast, North African Startups
- Nuwa Capital fund aims to reach $100 million mark this year
- Investment round comes amid rising appetite for tech in region
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A Gulf venture capital firm created a year ago has raised $75 million to deploy in startups across the Middle East, as rich Saudi companies and families seek to monetize on the boom in technology firms.
Nuwa Capital, based both in Dubai and Riyadh, has finished the first round of investment in its Nuwa Ventures Fund I and targets reaching the $100 million mark this year, Khaled Talhouni, managing partner at Nuwa Capital, said in a phone interview.