Advising Shorooq on its investment in Safqah Capital

We have advised Shorooq on its investment in Safqah Capital’s US$15.2m seed round. The funding round was led by Shorooq, with participation from anb Seed Fund and Rua Growth Fund, alongside Sharaka Capital, COTU Ventures, Sadu Capital, 500 Global, Suhail Ventures, MEVP, Waad Invest, JOA Capital, and others.

Shorooq, a multi-dimensional investment firm deploying capital across venture capital, private equity and venture debt strategies, is one of the leading investment firms in MENA.

Saudi Arabia-based Safqah Capital is a fintech/proptech platform building the technology infrastructure enabling real estate development and access to fast financing for developers and investment opportunities for investors.

Corporate partner Abdullah Mutawi, said: "As always, it is a pleasure to advise Shorooq on its investments and, it was particularly enjoyable to advise on this oversubscribed funding round into such an exciting young Saudi company. The team and I very much look forward to continuing to work with Shorooq as it enables more start-ups to change the way we do business locally, regionally and globally."

Our Dubai-based team consisted of Abdullah Mutawi (Partner) and included Samy Elsheikh (Senior Associate) and Mahmood Abdellatif (Associate) in the Corporate team.