Abu Dhabi's state fund Mubadala has a minority stake in Waha Capital and Abu Dhabi Investment Council, a unit of Mubadala, is a shareholder in Gulf Capital.
Elsewhere in the Gulf, trading volumes were much-thinner, as it had been witnessed on Saudi stock exchange, while Abu Dhabi index fell by 0.3 percent and the Dubai was down by 0.2 percent at the day’s market closure.
This new investment will go towards equity, working capital purposes, as well as possible urgent interim funding, the company announced on April 25
A recent report by Google and Strategy& identified Dubai as one of the most expensive cities in the world to launch a startup, accounting for 13.4 per cent of income per capita, compared with 6.8 per cent in Saudi Arabia and just 1.1 per cent in the U
The warning was also sent to several other institutions that were potential investors in the fund, said a person with knowledge of the matter, who asked not to be identified because it is private.