Shorooq Partners opens office in Bahrain
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
UAE-based Shorooq Partners has launched a new office in Bahrain, headed by partner Samir Yamani. The office is the fifth location for VC which has a presence in Saudi Arabia, Egypt, and Pakistan as well as the UAE. Shorooq Partners’ Bahrain headquarters is within Bahrain Fintech Bay.
The opening of the new office follows Shorooq’s acquisition of Bahrain-based investment and advisory firm Autarky Capital earlier this year. “This is a tremendously exciting time for Shorooq Partners to be opening in Bahrain. This market, MENA and the wider Asia-Pacific region are replete with investment opportunities right now.
Bahrain’s strengths as an investment and innovation hub with exceptional talent and potential for growth, coupled with Al Waha’s continuous support and backing, made Manama the obvious choice for our next regional office.
With a physical presence here in the Kingdom, we are looking forward to working directly with founders to empower the next wave of early-stage tech startups in Bahrain and abroad,” said Yamani. Bahrain’s Al Waha Fund of Funds, set up to drive venture capital investment in the Middle East, investing in Shorooq Partners in 2020.
Areije Al Shakar, Fund Director at Al Waha Fund of Funds, said, “We look forward to supporting the next phase of growth – while providing the local ecosystem with greater access to funding and opportunities to grow their businesses from Bahrain. This expansion is a testament to Bahrain’s business-friendly policies and its growing reputation as an attractive investment option for international VCs.”