Abu Dhabi-based venture capital firm Shorooq Partners has acquired Bahrain headquartered Autarky Advisors’ finance arm Autarky Capital for an undisclosed sum.

As one of the emerging investment and advisory firms, 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 Gulf Cooperative Countries (GCC) as well as the Middle East, North Africa and Pakistan (MENAP) region.

“Today marks the beginning of an exciting new chapter and speaks volumes of Shorooq’s ability to move fast and creatively in order to put their portfolio companies on the best footing. 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.

“It is my utmost privilege and excitement to share this news and partner with Autarky. Samir will join us to spearhead our venture debt practice, the first one locally and rooted from the region, an idea which we have been working on since 2018 and is essential for the region, for the best founders out there, for the current Shorooq portfolio companies. We want to offer this asset class – non-dilutive growth equity – to the best companies so that we can accelerate their growth and not be dependent on the insufficient growth equity out there” said Mahmoud Adi, Founding Partner of Shorooq Partners.