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GCC Private Equity and Venture Capital

  • Report

  • 32 Pages
  • January 2020
  • Region: Middle East
  • Marmore Mena Intelligence
  • ID: 5010734

Examining and analyzing the Private Equity and Venture Capital landscape highlighting key industry themes, investment opportunities, deal activity and profiling key players.

Traditionally, the oil rich GCC economies were major investors in foreign financial and real assets overseas as their oil surpluses were much larger in comparison to the opportunities available in the local economies. Therefore, the GCC countries invested part of their surpluses through their Sovereign Wealth Funds and Pension Funds in foreign capital markets and real assets.

During the last one decade however, there was a return and retention of the capital in their home countries due to geo-political developments, the availability of growth opportunities in the domestic market and the encouragement by the GCC governments to grow their non-oil economies. Further in recent years, with comparatively lower oil prices coupled with large capital spending plans that are resulting in fiscal deficits, the GCC governments have been actively seeking foreign capital infusion into their economies. For this purpose, the GCC governments have been pursuing policies that enable foreign investments and private capital.

Table of Contents

Chapter 1: Executive Summary
Chapter 2: Capital raising in the GCC
  • Sustained Economic growth momentum
  • Muted Capital Inflows
  • Entrepreneurial Skills in the Region
  • Role of Private Equity and Venture Capital in raising capital
  • Value Creation by PE & VC Players
Chapter 3: GCC Private Equity – Seeking Revival
  • PE Industry Structure in the GCC
  • Developments in the GCC PE Industry
  • Collapse of UAE PE Firm Abraaj in 2018 and its fall out
  • GCC Private Equity Deal Flows
  • Fund Raising by GCC PE Firms
  • Major PE Players
Chapter 4: GCC Venture Capital – Laying the foundations
  • GCC Governments’ Enabling Initiatives for Venture Capital Growth
  • Major VC Players
  • Recent VC deals in the GCC
  • Potential VC success stories in the GCC
Chapter 5: Investment opportunities across sectors
  • Retail
  • Education
  • Healthcare
  • Alternative Energy
  • Infrastructure
Chapter 6: Challenges stifling the growth of PE and VC
  • Family Businesses are Reluctant to Relinquish Control
  • Significant Barriers to Due Diligence
  • Exits have been Subdued
  • Limited Corporate Governance
  • Dearth of Qualified Human resources
  • Procedural Hurdles in Establishing SMEs in the region
  • Other Challenges
Chapter 7: Appendix
  • Key VC Terminologies
List of Tables
Table 2.1 GCC GDP Growth Rate vs. Other Regions (in %)
Table 2.2 Doing Business Ranking, 2019
Table 2.3 Pros and cons for issuers of different funding or exit routes
Table 3.1 GCC Capital Raised by Investment Focus, 2003-2018
Table 3.2 Prominent Deals in 2018-19
Table 3.3 Funds managed by Gulf Capital Partners
Table 3.4 Gulf Capital Partners’ recent direct investments
Table 3.5 Gulf Capital Partners’ current portfolio
Table 3.6 Gulf Capital Partners’ exited investments
Table 3.7 Funds managed by Investcorp
Table 3.8 Investcorp’s recent direct investments
Table 3.9 Funds managed by Ithmar Capital
Table 3.10 Funds managed by Malaz Capital
Table 3.11 Funds managed by Bank AlKhair
Table 3.12 Funds managed by HBG Holdings
Table 3.13 Funds managed by ADFG
Table 3.14 Recent Investments of ADFG
Table 3.15 Funds managed by NBK Capital Partners
Table 3.16 Direct Investments by NBK Capital Partners
Table 3.17 Funds managed by ASMA Capital
Table 3.18 Direct Investments by ASMA Capital
Table 4.1 Ventures Funded by MEVP
Table 4.2 Ventures funded by Waed Ventures
Table 4.3 Ventures funded by Raed Ventures
Table 4.4 Ventures Funded by Wamda Capital
Table 5.1 Investment Themes
Table 5.2 Emerging Retail start-ups with PE/VC funding
Table 5.3 Emerging Education start-ups with PE/VC funding
Table 5.4 Estimated renewable energy capacity in the GCC (MW), 2030
List of Figures
Figure 2.1 Overall GCC FDI Flows as % of GDP
Figure 2.2 Value Creation in Business Conglomerate
Figure 3.1 Regional Split of Investments Made (by number of transactions), 2008-2019
Figure 6.1 IPOs in GCC Region, 2013-2019



Companies Mentioned

  • ADFG
  • ASMA Capital
  • Bank AlKhair
  • Gulf Capital Partners
  • HBG Holdings
  • Investcorp
  • Ithmar Capital
  • MEVP
  • Malaz Capital
  • NBK Capital Partners
  • Raed Ventures
  • Waed Ventures
  • Wamda Capital