Shuaa Capital, a Dubai-based investment firm, has committed a significant investment in Anghami, the Middle East's leading music streaming platform, which will be listed on Nasdaq in June. That will be the first time a regional tech firm has achieved in the US.
Another investment firm in Bahrain, GFH, has been putting money into building up a sizable investment portfolio.
So, what do these unrelated investments have in common? Jassim Alseddiqi's stamp can be found on all of them. In the last six years, Alseddiqi has established himself as a savvy Middle Eastern dealmaker. With Anghami's Nasdaq listing, he's broadening his horizons to include new markets.
If you look at Anghami, their fortunes have turned around in the last four months since Shuaa's involvement,” said Alseddiqi, who holds a master's degree in electrical engineering from Cornell University. “They relocated to Abu Dhabi, obtained a generous subsidy from the Abu Dhabi Investment Office (ADIO), and will be listed on Nasdaq New York, where they will collect a substantial amount of capital for expansion. Entrepreneurs and company owners admire what we bring to the table so much that they give us preferential valuations so that they can profit from the benefits we offer.
The changes he implemented after Shuaa merged with ADFG in 2019. Shuaa was dealing with several operational problems at the time the deal was completed, with some investments going bad and leaving it with cash issues that needed to be resolved. Merging with the cash-rich ADFG was the ideal solution.
Shuaa now manages a portfolio worth around $14 billion. Alseddiqi, as Group CEO, has established a steadying hand at the forefront. Shuaa's investment banking arm can be seen advising on a lot of debt investments and equity capital markets in the city, he said.
The Middle East has gone through a variety of stages and disasters. The Arab Spring was the catalyst, followed by the oil crisis in 2016, the Yemen war, and COVID-19 last year. Our combined ADFG and Shuaa platform has proven to be stable and robust, as well as adding to the ecosystem.
Alseddiqi has left fund and wealth management firms struggling with a cash flow dilemma that will take time to address. They were overexposed to conventional assets like real estate and underexposed to digital-focused projects that could provide the next big thing. “You will learn about a deal in the tech sector that we are closing soon this one is investment debt for a company in the UAE. This is a significant exchange,” he said.
Alseddiqi has been active in technology since 2008, has invested in Uber, Snapchat, and Zoom as early as 2008. He has successfully incubated projects in the United Arab Emirates. Of course, he had his share of tech startup failures. Failure is what allows you to excel in the future.
ADFG has been in existence for the past 10 years, is now paying off in the ecosystem. We worked with the banks to help Stanford Marine Group stabilize their sector. We bought out all of the banks' (debt) and now run the company personally.
Facing, the COVID-19 unpredictable situations have shown that no degree of foresight can benefit companies and economies. As inflation sets in, interest rates will skyrocket. As a result, any early indications of the Fed raising rates would be negative for asset prices. We would have a difficult time maneuvering in this global situation if hyperinflation takes off and prices are lifted very high.
What ifs aren't going to sway Alseddiqi into a protective mentality about the opportunities that are currently available. “There is pent-up demand. What we need now is global herd immunity and everything to open up for people to return to normalcy. Because of COVID-19's breakthrough in healthcare, the next ten years may be the Golden Age for mankind. Several health advancements could be beneficial in the next 10 years.
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