KBBO Group (“the Group”) established KBBO Ventures to serve as the Group’s investment arm into the various stages of finance in the venture asset class. The Group has transferred and consolidated all previous venture investments under KBBO Ventures and has made available additional capital to be further deployed into this sector.
This strategic move came as a result of the recent announcement from the Federal Ministerial Cabinet under the leadership of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, the Vice President, Minister of Defense and Prime Minister of the United Arab Emirates (“UAE”), and Ruler of Dubai, aiming to further develop the UAE’s economic diversification plans, by targeting a 5% contribution from Innovation and Entrepreneurship to GDP.
KBBO Ventures is based out of Abu Dhabi, the capital of the UAE, and has offices in Washington DC, New York and London. The Group allocated approximately $100 million of capital to KBBO Ventures to deploy in global venture funds and global early stage startup opportunities. KBBO Ventures will focus on providing its portfolio companies with strategic access to the MENA region as part of these companies’ international expansion initiatives. KBBO Ventures aims to leverage KBBO Group’s Healthcare, Finance & Banking, Food & Beverage, and Defense & Security assets as a platform for pilots and testing for portfolio companies that wish to enter to the MENA region.
Under the leadership of Managing Director Yazen Abu Gulal, the KBBO Ventures executive team, advisors and venture partners will focus on sourcing, screening, and deploying into opportunities and later helping with growing, partnering and exiting positions in these companies to interested parties. Members of the Executive team include general partners at Arab Angel Fund Mr. Kyle Hendrick, Investment Committee members HE. Abdulla Al Yousef, HE. Saud Al Nowais, Ms. Mayssoun Habra, Mr. Hani Buttikhi and Mr. Yazen Abu Gulal.
For more information on KBBO Ventures please visit kbboventures.com that will be launched soon.