Money & BusinessBahrain

Bahrain: Shorooq Partners launches new office

UAE-headquartered Shorooq Partners has launched a new office in Bahrain. The new office is the fifth location for the rapidly expanding VC which has built a presence in Saudi Arabia, Egypt, Pakistan, and UAE.

The new Shorooq Partners Bahrain headquarters will be led by partner Samir Yamani and based within Bahrain Fintech Bay (BFB) to allow the VC to interact directly with institutional investors, BFB resident FinTech startups, and provide first-hand opportunities for mentorship and investment.

The opening of the new office follows Shorooq’s acquisition of Bahrain-based investment and advisory firm Autarky Capital earlier this year.

Bahrain’s Al Waha Fund of Funds has supported Shorooq Partners’ decision to open in Manama. It has invested in Shorooq Partners in 2020 as a result of Shorooq’s active support of the next wave of innovative startups.

Shorooq Partners is the only VC fund to receive funding from all sovereign wealth funds in the GCC, as well as Jordan, and the only GCC fund manager to receive investment from the Korean sovereign wealth fund Korea Venture Investment Corporation (KVIC) along with other top tier investors.

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