Abu Dhabi – MENA Herald: UAE-based financial service firm Gulf Islamic Investments LLC (“GII”) announced today that it has successfully raised venture capital funding for multiple Silicon valley based technology companies over the last ten months. The total amount raised is close to US$ 200 million.
GII further confirms continuing strategic partnerships with the portfolio companies to lend strong support to their business development and market penetration in the GCC region.
Mohammed Alhassan, GII Founding Partner, Director and Chief Executive Officer for GCC, said: “we are very proud to raise a considerable capital for Silicon Valley based companies in a short time, GII seeks to bring the best investment opportunities for our shareholders and investors and in compliance with Islamic finance principles. I am delighted to see that GII found the ‘winning formula’ by bringing together exceptional investments to investors, while maintaining the best standards of risk management and good governance under the sponsorship of reputable and committed directors and shareholders from all across the GCC.”
Pankaj Gupta, GII Founding Partner and Chief Executive Officer for UAE said: “We will continue assisting our portfolio companies throughout the investment life-cycle, through corporate and business development in the GCC until the last investor we brought into the company has realized his financial returns.”
This is a major milestone and achievement for Gulf Islamic Investments as it prepares to expand its venture capital arm with the launch of GII TECH. The fund is planning to raise up to US$100 million.