Abu Dhabi-based venture capital firm Shorooq Partners has acquired Bahrain headquartered investment and advisory firm Autarky Advisors’ finance arm Autarky Capital for an undisclosed sum. Autarky Capital had been receiving significant interest, particularly from Saudi Arabian investors, including sovereign wealth funds. The acquisition of Autarky Capital bolsters Shorooq Partners’ venture capital and venture debt capabilities presence in the GCC as well as the MenaP region (Middle East, North Africa and Pakistan). We’ve been developing unique debt finance instruments for Mena and this acquisition represents a long view and commitment by all parties to the region,” said Samir Yamani, Founding Partner of Autarky Capital. Most recently, Korea Venture Investment Corporation (KVIC) a government-backed Fund-of-Funds announced that it has selected Shorooq Partners to receive funding from its Foreign VC Investment Fund.

Source: The North Africa Journal June 28, 2021 06:45 UTC