Tag: Arab Business Angel Network

ABAN Signs MoUs To Set Up Three New Business Angel Networks In MENA Region

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ABANThe Arab Business Angels Network (ABAN), established by the Young Arab Leaders (YAL) with Dubai International Capital as its founder and lead investor, recently announced the signing of three strategic memorandums of understanding (MoUs) with companies in the MENA region to collaboratively work towards establishing three new business angel networks in the region.

ABAN’s agreement with the Saudi-based Siraj Capital in Jeddah and the National Enterprise Centre (NEC-Centennial Fund) in Riyadh, as well as the Beirut-based Bader Lebanon will facilitate the creation of the Jeddah Business Angels Network, Riyadh Business Angels Network, and the Lebanese Business Angels Network respectively.

ABAN will counsel the three partner companies on various aspects of establishing and maintaining a local Business Angels Network in their respective cities. The key components of their knowledge transfer will include full technical support and skill-set training, extensive onsite training on global best practices for recruiting angel investors, screening investment opportunities, and nurturing a spirit of entrepreneurialism within the organizational structure. ABAN will also equip each of the three partner networks with a training manual on effective practices to maintain day-to-day operations.

Other than sharing the responsibility of due diligence activities such as screening potential angel investors and seeding ventures, ABAN will be invited to participate in the three new networks’ future matchmaking events, opening up a new pool of seed capital for ABAN’s network. The events will help provide an organized and professional platform for entrepreneurs to showcase their companies to potential angel investors.

ABAN Hosts Fourth Annual Entrepreneur – Investor Matchmaking Event

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ABANThe Arab Business Angels Network (ABAN), a subsidiary of Dubai International Capital (DIC), in partnership with Young Arab Leaders (YAL), hosted its 4th annual entrepreneur-investor matchmaking event, taking forward the concept of angel or seed capital investing, a relatively new phenomenon in the Middle East.

The event, held on October 20th at the Dubai International Financial Centre (DIFC) spotlighted three aspiring start-ups:

  • White Smile, a project specializing in professional teeth whitening, oral detoxification, and cleansing therapies.
  • Chipmunk, a franchise of an eclectic range of baby products from Belgium. 
  • Khayal Interactive, an Egyptian game production company.

ABAN’s matchmaking events offer entrepreneurial ventures in the MENA region an opportunity to showcase their businesses and connect with high net worth investors seeking start-up investment opportunities. The affluent investors, termed angel investors, provide capital for business start-ups, typically in exchange for ownership equity.

In the past year, ABAN has signed up with several leading regional and international organisations to pool resources and promote entrepreneurialism, innovation and knowledge creation in the region.

Recently, ABAN joined forces with the Mohammed Bin Rashid Al Maktoum Foundation to foster entrepreneurship among women across the Arab region. ABAN has also collaborated with Dubai Internet City, one of the world’s largest managed ICT clusters and a member of TECOM Investments, to source new entrepreneurial ventures in the high-growth technology sector for further developing the region as a knowledge-based economy.

In addition, ABAN has partnered with Bader Group to support the establishment of a business angels networks in Lebanon. It has also signed an MoU with the Al Ahli Holding Group (AAHG) to promote developmental, cross-learning relationships between Emirati youth and the youth of other countries to help groom competent leaders for the future. 

ABAN offers a wide range of benefits to its members ranging from advice and consultancy to financial support and training for selected entrepreneurs. ABAN also supports proposal pitching to investors, and facilitates collaboration and syndication among investors to maximise investment opportunities. 

The Arab Business Angels Network is scheduled to host its next matchmaking event on December 15th for introducing yet another batch of entrepreneurs to regional investors.