The Global Private Capital Association (GPCA) and the Middle East Venture Capital Association (MEVCA) announced a significant strategic partnership during Abu Dhabi Finance Week 2023.
The partnership will see New York and Singapore-based GPCA establish a permanent presence in the Middle East with the support of MEVCA and the Abu Dhabi and regional ecosystem.
The strategic move reinforces MEVCA’s standing as a leading platform for Growth and Venture Capital investors in the region. MEVCA members will have an enriched membership experience, gaining access to GPCA’s global network.
Both associations will collaborate, innovate, and invest in the region’s strong venture capital landscape via various dedicated initiatives. This will build ties among GPCA member investors around the world in the Middle East.
The partnership between GPCA and MEVCA highlights the region’s dynamic investment landscape, as the UAE’s investor-friendly policies and regulatory reforms attract global venture capitalists. VC investment activity has surged since 2021, bucking global tech funding trends, with data from GPCA’s 2022 MENA Data Insight report showing MENA-based start-ups raised US$1.1bn in Q2 2022.
Cate Ambrose, CEO and Board member of GPCA, said: “The Middle East is emerging as an extraordinarily dynamic hub among global economies, and we are excited to play a role in the region in partnership with MEVCA. Our joint mission is to contribute to an investment ecosystem where innovation and capital translate into long-term sustainable and inclusive growth, in close alignment with local entities.
Noor Sweid, Chairperson and founding member of MEVCA, stated: “This partnership with GPCA is a testament to the strength and potential of the Middle Eastern venture capital landscape. We look forward to driving impactful collaborations, fostering innovation, and creating valuable opportunities for our members.”
Salem Mohammed Al Darei, CEO of ADGM Authority said: “We are delighted to witness the establishment of this milestone strategic partnership between the GPCA and the MEVCA. The decision by GPCA to establish a permanent presence in the UAE, specifically in Abu Dhabi, underscores our growing prominence in the global investment landscape. As ADGM continues to foster an environment conducive to innovation and investment, this collaboration is yet another step that will contribute significantly to the growth of investment and innovation opportunities for stakeholders. ADGM looks forward to facilitating the initiatives that will arise from this partnership, further solidifying Abu Dhabi’s position as the ‘Capital of Capital’.”
