FinaMaze, a hybrid asset manager regulated by the Abu Dhabi Global Market, rolled out a new investment portfolio that will give investors with a net worth of more than $500,000 exposure to venture capital funds in the Middle East and North Africa region.
The FinaMaze Top VC Booster portfolio will open the “world of VC investments” to individual qualified investors from $10,000, the company said.
“VCs and private equity funds have always been a highly desired asset class that was confined to the institutional and accredited investors committing considerable amounts,” said Mehdi Fichtali, founder and chief executive of FinaMaze, which offers investment advice through a combination of human experience and machine learning outcomes.
“These non-publicly traded private equity funds invest capital in companies or projects with a long-term view with often decent returns but are virtually unavailable to the five-digit investors.”
Mena start-ups raised $1.2 billion in the first half of 2021, up 64 per cent over the same period a year ago, according to data platform Magnitt.
However, the number of deals dropped by 20 per cent to 254 as angel investors diverted funds towards more traditional asset classes such as stock markets and property.
The UAE led in terms of deal numbers, securing 61 per cent of all investment. Major funding rounds in the first half included $415 million for Dubai’s cloud kitchen company Kitopi, $30.5m for Saudi Arabia’s e-commerce platform Sary and $30m for Egyptian freight start-up Trella.
The top three Mena centres – the UAE, Egypt and Saudi Arabia – accounted for 71 per cent of total capital invested during the period, the Magnitt data showed.
The first of the VC Mena investment portfolios will be dedicated to a top VC leader in the region “with a proven track record as an early investor in a number of Mena unicorns”, Mr Fichtali said.
VCs and private equity funds have always been a highly desired asset class that was confined to the institutional and to accredited investors committing considerable amounts
Mehdi Fichtali,
founder and chief executive of FinaMaze
Last month, FinaMaze started offering prime retail investors access to its algorithm-powered portfolios across a range of asset classes. It defines prime retail investors as those who invest a minimum of $2,000. Previously, only professional investors had access to the wealth manager’s investment products.
Robo-advisers have become popular in the wealth management sector because algorithms can crunch large and intricate data sets across different parameters faster, more precisely and at greater volumes than most people.
In addition, they reach a historically underserved market of middle-class investors unable to obtain access to portfolio management services due to minimum investment requirements.
FinaMaze was launched during the FinTech Abu Dhabi 2020 forum in November 2020 and is regulated by the ADGM’s Financial Services Regulatory Authority.
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
UAE currency: the story behind the money in your pockets
Company%20profile
%3Cp%3EName%3A%20Tabby%3Cbr%3EFounded%3A%20August%202019%3B%20platform%20went%20live%20in%20February%202020%3Cbr%3EFounder%2FCEO%3A%20Hosam%20Arab%2C%20co-founder%3A%20Daniil%20Barkalov%3Cbr%3EBased%3A%20Dubai%2C%20UAE%3Cbr%3ESector%3A%20Payments%3Cbr%3ESize%3A%2040-50%20employees%3Cbr%3EStage%3A%20Series%20A%3Cbr%3EInvestors%3A%20Arbor%20Ventures%2C%20Mubadala%20Capital%2C%20Wamda%20Capital%2C%20STV%2C%20Raed%20Ventures%2C%20Global%20Founders%20Capital%2C%20JIMCO%2C%20Global%20Ventures%2C%20Venture%20Souq%2C%20Outliers%20VC%2C%20MSA%20Capital%2C%20HOF%20and%20AB%20Accelerator.%3Cbr%3E%3C%2Fp%3E%0A
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
Getting%20there
%3Cp%3EGiven%20its%20remote%20location%2C%20getting%20to%20Borneo%20can%20feel%20daunting%20even%20for%20the%20most%20seasoned%20traveller.%20But%20you%20can%20fly%20directly%20from%20Kuala%20Lumpur%20to%20Sandakan%20and%20Sepilok%20is%20only%20half%20an%20hour%20away%20by%20taxi.%20Sandakan%20has%20plenty%20of%20accommodation%20options%2C%20while%20Sepilok%20has%20a%20few%20nature%20lodges%20close%20to%20the%20main%20attractions.%3C%2Fp%3E%0A
Killing of Qassem Suleimani
The five pillars of Islam
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
The Kingfisher Secret
Anonymous, Penguin Books
Mohammed bin Zayed Majlis
Scoreline
UAE 2-1 Saudi Arabia
UAE Mabkhout 21’, Khalil 59’
Saudi Al Abed (pen) 20’
Man of the match Ahmed Khalil (UAE)
Karwaan
Producer: Ronnie Screwvala
Director: Akarsh Khurana
Starring: Irrfan Khan, Dulquer Salmaan, Mithila Palkar
Rating: 4/5
Match info:
Leicester City 1
Ghezzal (63')
Liverpool 2
Mane (10'), Firmino (45')
The Details
Article 15
Produced by: Carnival Cinemas, Zee Studios
Directed by: Anubhav Sinha
Starring: Ayushmann Khurrana, Kumud Mishra, Manoj Pahwa, Sayani Gupta, Zeeshan Ayyub
Our rating: 4/5
'Hocus%20Pocus%202'
%3Cp%3EDirector%3A%20Anne%20Fletcher%3Cbr%3E%3Cbr%3EStars%3A%20Bette%20Midler%2C%20Sarah%20Jessica%20Parker%2C%20Kathy%20Najimy%3Cbr%3E%3Cbr%3ERating%3A%203.5%2F5%3C%2Fp%3E%0A
Charlotte Gainsbourg
Rest
(Because Music)
COMPANY%20PROFILE%20
%3Cp%3EName%3A%20DarDoc%3Cbr%3EBased%3A%20Abu%20Dhabi%3Cbr%3EFounders%3A%20Samer%20Masri%2C%20Keswin%20Suresh%3Cbr%3ESector%3A%20HealthTech%3Cbr%3ETotal%20funding%3A%20%24800%2C000%3Cbr%3EInvestors%3A%20Flat6Labs%2C%20angel%20investors%20%2B%20Incubated%20by%20Hub71%2C%20Abu%20Dhabi's%20Department%20of%20Health%3Cbr%3ENumber%20of%20employees%3A%2010%3C%2Fp%3E%0A
ESSENTIALS
The flights
Fly Etihad or Emirates from the UAE to Moscow from 2,763 return per person return including taxes.
Where to stay
Trips on the Golden Eagle Trans-Siberian cost from US$16,995 (Dh62,414) per person, based on two sharing.
The story in numbers
18
This is how many recognised sects Lebanon is home to, along with about four million citizens
450,000
More than this many Palestinian refugees are registered with UNRWA in Lebanon, with about 45 per cent of them living in the country’s 12 refugee camps
1.5 million
There are just under 1 million Syrian refugees registered with the UN, although the government puts the figure upwards of 1.5m
73
The percentage of stateless people in Lebanon, who are not of Palestinian origin, born to a Lebanese mother, according to a 2012-2013 study by human rights organisation Frontiers Ruwad Association
18,000
The number of marriages recorded between Lebanese women and foreigners between the years 1995 and 2008, according to a 2009 study backed by the UN Development Programme
77,400
The number of people believed to be affected by the current nationality law, according to the 2009 UN study
4,926
This is how many Lebanese-Palestinian households there were in Lebanon in 2016, according to a census by the Lebanese-Palestinian dialogue committee
World Cup final
Who: France v Croatia
When: Sunday, July 15, 7pm (UAE)
TV: Game will be shown live on BeIN Sports for viewers in the Mena region
DUNGEONS%20%26%20DRAGONS%3A%20HONOR%20AMONG%20THIEVES
%3Cp%3EDirectors%3A%20John%20Francis%20Daley%20and%20Jonathan%20Goldstein%3Cbr%3EStars%3A%20Chris%20Pine%2C%20Michelle%20Rodriguez%2C%20Rege-Jean%20Page%2C%20Justice%20Smith%2C%20Sophia%20Lillis%3Cbr%3ERating%3A%203%2F5%3C%2Fp%3E%0A
RESULT
Manchester United 2 Tottenham Hotspur 1
Man United: Sanchez (24' ), Herrera (62')
Spurs: Alli (11')
UAE currency: the story behind the money in your pockets
COPA DEL REY
Semi-final, first leg
Barcelona 1 (Malcom 57')
Real Madrid (Vazquez 6')
Second leg, February 27
