London Technology Club has hosted its first event in the emirate, with 70 guests. Photo: LTC
London Technology Club has hosted its first event in the emirate, with 70 guests. Photo: LTC
London Technology Club has hosted its first event in the emirate, with 70 guests. Photo: LTC
London Technology Club has hosted its first event in the emirate, with 70 guests. Photo: LTC

Investor’s forum: London Technology Club opens first overseas investment hub in Dubai


Alice Haine
  • English
  • Arabic

London Technology Club, an exclusive community of wealthy investors, is opening its first overseas investment hub in Dubai as it looks to tap a growing membership base in the Middle East and North Africa region.

The networking club, which matches investment opportunities in the technology sector with high net worth investors, chose the emirate for its first international base after its UK members called for meetings to be held there.

“We already intended to expand and become a global forum and network but more and more members were asking us, what about Dubai? It was a natural step for us as our first international offering,” Simon Pavitt, chief operating officer of LTC, told The National.

Founded in 2018 by London-based entrepreneur and investor Konstantin Sidorov – one of the early investors in Spotify whose other notable exits include Airbnb and Lyft – the LTC is an exclusive community of family offices, private and institutional investors, venture capital firms, entrepreneurs and technology experts.

The Club offers co-investment, thought leadership and relationship-building opportunities in the tech sector, hosting two events a month and offering access to competitive VC funds with attractive returns.

“At the events, we present members with founders or investment opportunities and also share ideas around thought leadership and where we believe the world is heading from technology point of view,” Mr Pavitt said.

More than half of the 87 members in London are ultra high net worth or high net worth individuals, he said, while 15 members are VC firms and the rest are made up of institutional investors such as Barclays Wealth and UBS.

“We're a mixture. We're all about bringing together VCs, tech pioneers, influencers et cetera and then investors to talk investments,” Mr Pavitt said.

Simon Pavitt, chief operating officer of LTC, said choosing Dubai as the base for its first overseas hub was a natural fit for the company as many members spend their winters in the emirate. Photo: LTC
Simon Pavitt, chief operating officer of LTC, said choosing Dubai as the base for its first overseas hub was a natural fit for the company as many members spend their winters in the emirate. Photo: LTC

In London, individual membership costs £8,000, while a corporate partner or VC pays £15,000 and institutional investors are charged £25,000.

In Dubai, membership will be charged at the equivalent of Dh40,000, Dh70,000 and Dh125,000 respectively.

The decision to expand to Dubai was fuelled by its members, Mr Pavitt said.

“We noticed more of our members were spending more time in Dubai, whether that's setting up businesses, investing or moving their family over there,” he said.

“It almost became a bit of a running joke that when we talked about our Christmas party, asking our members where they would be for the winter, they all said Dubai.”

LTC will have a bricks and mortar office in Dubai through its partnership with venture capital firm and LTC member Global Ventures, with the Club looking to grow its membership base in the UAE and wider region by a calendar of events.

Its first Dubai event for 70 guests was hosted at restaurant The Maine in Business Bay during the World Blockchain Summit this month. There are other events planned for Dubai and Abu Dhabi this year.

The UAE is a “natural place for people to convene,” said Mr Pavitt, adding that there is “a huge buzz” in the country around technology and progress with the company eyeing up investment opportunities in mobility, AI, FinTech, cyber security, DeepTech, BioTech, FoodTech and impact investments.

“Dubai is definitely a focus for us going forward. There's been a few marquee signature companies that have been built out of the region – its path to build unicorns has become clear,” he said.

With more wealthy investors looking at growth stage technology companies as part of a mixed portfolio, Mr Pavitt said there is an increasing appetite in the region for tech investments.

Future locations for potential LTC hubs include Geneva, Zurich, Miami, Berlin or Singapore, but choosing Dubai first “is a testament to the region and to Dubai, as a city”, Mr Pavitt said.

LTC has a long record of targeted investments, listing Revolut, Klarna and ATAI Life Sciences among its members’ direct investment portfolio.

“A lot of our opportunities are relatively well known brands,” Mr Pavitt said.

“But we like to say that venture capital is an access class, not an asset class with the ability to unlock these opportunities the main problem for investors. That's what we help unlock.”

Noor Sweid, general partner at Global Ventures, said Dubai, “a city bustling with entrepreneurs”, along with the wider Mena region has “become a global hotspot for tech innovation".

“It is also a part of the world that continues to attract sophisticated investors who see it as an ideal place to settle with their businesses and families,” she added.

UAE currency: the story behind the money in your pockets
Specs

Engine: Dual-motor all-wheel-drive electric

Range: Up to 610km

Power: 905hp

Torque: 985Nm

Price: From Dh439,000

Available: Now

The specs
Engine: 4.0-litre flat-six
Power: 510hp at 9,000rpm
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
Price: From Dh801,800
While you're here
UAE currency: the story behind the money in your pockets
COMPANY%20PROFILE%20
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Fighter profiles

Gabrieli Pessanha (Brazil)

Reigning Abu Dhabi World Pro champion in the 95kg division, virtually unbeatable in her weight class. Known for her pressure game but also dangerous with her back on the mat.

Nathiely de Jesus, 23, (Brazil)

Two-time World Pro champion renowned for her aggressive game. She is tall and most feared by her opponents for both her triangles and arm-bar attacks.

Thamara Ferreira, 24, (Brazil)

Since her brown belt days, Ferreira has been dominating the 70kg, in both the World Pro and the Grand Slams. With a very aggressive game.

Samantha Cook, 32, (Britain)

One of the biggest talents coming out of Europe in recent times. She is known for a highly technical game and bringing her A game to the table as always.

Kendall Reusing, 22, (USA)

Another young gun ready to explode in the big leagues. The Californian resident is a powerhouse in the -95kg division. Her duels with Pessanha have been highlights in the Grand Slams.

Martina Gramenius, 32, (Sweden)

Already a two-time Grand Slam champion in the current season. Gramenius won golds in the 70kg, in both in Moscow and Tokyo, to earn a spot in the inaugural Queen of Mats.

 

The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

England v South Africa schedule:

  • First Test: At Lord's, England won by 219 runs
  • Second Test: July 14-18, Trent Bridge, Nottingham, 2pm
  • Third Test: The Oval, London, July 27-31, 2pm
  • Fourth Test: Old Trafford, Manchester, August 4-8
Cricket World Cup League Two

Teams

Oman, UAE, Namibia

Al Amerat, Muscat

 

Results

Oman beat UAE by five wickets

UAE beat Namibia by eight runs

Namibia beat Oman by 52 runs

UAE beat Namibia by eight wickets

 

Fixtures

Saturday January 11 - UAE v Oman

Sunday January 12 – Oman v Namibia

The Details

Kabir Singh

Produced by: Cinestaan Studios, T-Series

Directed by: Sandeep Reddy Vanga

Starring: Shahid Kapoor, Kiara Advani, Suresh Oberoi, Soham Majumdar, Arjun Pahwa

Rating: 2.5/5 

'Joker'

Directed by: Todd Phillips

Starring: Joaquin Phoenix

Rating: Five out of five stars

Results
%3Cp%3E%3Cstrong%3EStage%207%3A%3C%2Fstrong%3E%3Cbr%3E1.%20Adam%20Yates%20(GBR)%20UAE%20Team%20Emirates%20%E2%80%93%203hrs%2029min%2042ses%3Cbr%3E2.%20Remco%20Evenepoel%20(BEL)%20Soudal%20Quick-Step%20%E2%80%93%2010sec%3Cbr%3E3.%20Geoffrey%20Bouchard%20(FRA)%20AG2R%20Citroen%20Team%20%E2%80%93%2042sec%3Cbr%3E%3Cstrong%3EGeneral%20Classification%3A%3C%2Fstrong%3E%3Cbr%3E1.%20Remco%20Evenepoel%20(BEL)%20Soudal%20Quick-Step%3Cbr%3E2.%20Lucas%20Plapp%20(AUS)%20Ineos%20Grenaders%20%E2%80%93%2059se%3Cbr%3E3.%20Adam%20Yates%20(GBR)%20UAE%20Team%20Emirates%20%E2%80%9360sec%3Cbr%3ERed%20Jersey%20(General%20Classification)%3A%20Remco%20Evenepoel%20(BEL)%20Soudal%20Quick-Step%3Cbr%3EGreen%20Jersey%20(Points%20Classification)%3A%20Tim%20Merlier%20(BEL)%20Soudal%20Quick-Step%3Cbr%3EWhite%20Jersey%20(Young%20Rider%20Classification)%3A%20Remco%20Evenepoel%20(BEL)%20Soudal%20Quick-Step%3Cbr%3EBlack%20Jersey%20(Intermediate%20Sprint%20Classification)%3A%20Edward%20Planckaert%20(FRA)%20Alpecin-Deceuninck%3C%2Fp%3E%0A
How to help

Call the hotline on 0502955999 or send "thenational" to the following numbers:

2289 - Dh10

2252 - Dh50

6025 - Dh20

6027 - Dh100

6026 - Dh200

Thanksgiving meals to try

World Cut Steakhouse, Habtoor Palace Hotel, Dubai. On Thursday evening, head chef Diego Solis will be serving a high-end sounding four-course meal that features chestnut veloute with smoked duck breast, turkey roulade accompanied by winter vegetables and foie gras and pecan pie, cranberry compote and popcorn ice cream.

Jones the Grocer, various locations across the UAE. Jones’s take-home holiday menu delivers on the favourites: whole roast turkeys, an array of accompaniments (duck fat roast potatoes, sausages wrapped in beef bacon, honey-glazed parsnips and carrots) and more, as  well as festive food platters, canapes and both apple and pumpkin pies.

Ruth’s Chris Steakhouse, The Address Hotel, Dubai. This New Orleans-style restaurant is keen to take the stress out of entertaining, so until December 25 you can order a full seasonal meal from its Takeaway Turkey Feast menu, which features turkey, homemade gravy and a selection of sides – think green beans with almond flakes, roasted Brussels sprouts, sweet potato casserole and bread stuffing – to pick up and eat at home.

The Mattar Farm Kitchen, Dubai. From now until Christmas, Hattem Mattar and his team will be producing game- changing smoked turkeys that you can enjoy at home over the festive period.

Nolu’s, The Galleria Mall, Maryah Island Abu Dhabi. With much of the menu focused on a California inspired “farm to table” approach (with Afghani influence), it only seems right that Nolu’s will be serving their take on the Thanksgiving spread, with a brunch at the Downtown location from 12pm to 4pm on Friday.

Specs

Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request

Results

6.30pm: Maiden Dh165,000 (Dirt) 1,400m. Winner: Rio Angie, Pat Dobbs (jockey), Doug Watson (trainer).

7.05pm: Handicap Dh170,000 (D) 1,600m. Winner: Trenchard, Pat Dobbs, Doug Watson.

7.40pm: Maiden Dh165,000 (D) 1,600m. Winner: Mulfit, Pat Dobbs, Doug Watson.

8.15pm: Handicap Dh210,000 (D) 1,200m. Winner: Waady, Dane O’Neill, Doug Watson.

8.50pm: Handicap Dh210,000 (D) 2,000m. Winner: Tried And True, Pat Dobbs, Doug Watson.

9.25pm:Handicap Dh185,000 (D) 1,400m. Winner: Midnight Sands, Pat Dobbs, Doug Watson.

A German university was a good fit for the family budget

Annual fees for the Technical University of Munich - £600

Shared rental accommodation per month depending on the location ranges between  £200-600

The family had budgeted for food, books, travel, living expenses - £20,000 annually

Overall costs in Germany are lower than the family estimated 

As proof that the student has the ability to take care of expenses, international students must open a blocked account with about £8,640

Students are permitted to withdraw £720 per month

Which honey takes your fancy?

Al Ghaf Honey

The Al Ghaf tree is a local desert tree which bears the harsh summers with drought and high temperatures. From the rich flowers, bees that pollinate this tree can produce delicious red colour honey in June and July each year

Sidr Honey

The Sidr tree is an evergreen tree with long and strong forked branches. The blossom from this tree is called Yabyab, which provides rich food for bees to produce honey in October and November. This honey is the most expensive, but tastiest

Samar Honey

The Samar tree trunk, leaves and blossom contains Barm which is the secret of healing. You can enjoy the best types of honey from this tree every year in May and June. It is an historical witness to the life of the Emirati nation which represents the harsh desert and mountain environments

MOUNTAINHEAD REVIEW

Starring: Ramy Youssef, Steve Carell, Jason Schwartzman

Director: Jesse Armstrong

Rating: 3.5/5

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

 

TICKETS

Tickets start at Dh100 for adults, while children can enter free on the opening day. For more information, visit www.mubadalawtc.com.

EA Sports FC 25
Match info

Uefa Nations League A Group 4

England 2 (Lingard 78', Kane 85')
Croatia 1 (Kramaric 57')

Man of the match: Harry Kane (England)

Defence review at a glance

• Increase defence spending to 2.5% of GDP by 2027 but given “turbulent times it may be necessary to go faster”

• Prioritise a shift towards working with AI and autonomous systems

• Invest in the resilience of military space systems.

• Number of active reserves should be increased by 20%

• More F-35 fighter jets required in the next decade

• New “hybrid Navy” with AUKUS submarines and autonomous vessels

UK-EU trade at a glance

EU fishing vessels guaranteed access to UK waters for 12 years

Co-operation on security initiatives and procurement of defence products

Youth experience scheme to work, study or volunteer in UK and EU countries

Smoother border management with use of e-gates

Cutting red tape on import and export of food

Company profile

Date started: 2015

Founder: John Tsioris and Ioanna Angelidaki

Based: Dubai

Sector: Online grocery delivery

Staff: 200

Funding: Undisclosed, but investors include the Jabbar Internet Group and Venture Friends

Funk Wav Bounces Vol.1
Calvin Harris
Columbia

Jetour T1 specs

Engine: 2-litre turbocharged

Power: 254hp

Torque: 390Nm

Price: From Dh126,000

Available: Now

MATCH INFO

Day 2 at Mount Maunganui

England 353

Stokes 91, Denly 74, Southee 4-88

New Zealand 144-4

Williamson 51, S Curran 2-28

COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3EElmawkaa%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Hub71%2C%20Abu%20Dhabi%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Ebrahem%20Anwar%2C%20Mahmoud%20Habib%20and%20Mohamed%20Thabet%3Cbr%3E%3Cstrong%3ESector%3A%3C%2Fstrong%3E%20PropTech%3Cbr%3E%3Cstrong%3ETotal%20funding%3A%3C%2Fstrong%3E%20%24400%2C000%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3E500%20Startups%2C%20Flat6Labs%20and%20angel%20investors%3Cbr%3E%3Cstrong%3ENumber%20of%20employees%3A%3C%2Fstrong%3E%2012%3Cbr%3E%3C%2Fp%3E%0A
KEY DEVELOPMENTS IN MARITIME DISPUTE

2000: Israel withdraws from Lebanon after nearly 30 years without an officially demarcated border. The UN establishes the Blue Line to act as the frontier.

2007: Lebanon and Cyprus define their respective exclusive economic zones to facilitate oil and gas exploration. Israel uses this to define its EEZ with Cyprus

2011: Lebanon disputes Israeli-proposed line and submits documents to UN showing different EEZ. Cyprus offers to mediate without much progress.

2018: Lebanon signs first offshore oil and gas licencing deal with consortium of France’s Total, Italy’s Eni and Russia’s Novatek.

2018-2019: US seeks to mediate between Israel and Lebanon to prevent clashes over oil and gas resources.

ILT20%20UAE%20stars
%3Cp%3E%3Cstrong%3ELEADING%20RUN%20SCORERS%3C%2Fstrong%3E%3Cbr%3E1%20Nicholas%20Pooran%2C%20261%3Cbr%3E%3Cstrong%3E2%20Muhammad%20Waseem%20(UAE)%2C%20248%3C%2Fstrong%3E%3Cbr%3E3%20Chris%20Lynn%2C%20244%3Cbr%3E4%20Johnson%20Charles%2C%20232%3Cbr%3E5%20Kusal%20Perera%2C%20230%3Cbr%3E%3Cbr%3E%3Cstrong%3EBEST%20BOWLING%20AVERAGE%3C%2Fstrong%3E%3Cbr%3E(minimum%2010%20overs%20bowled)%3Cbr%3E%3Cstrong%3E1%20Zuhaib%20Zubair%20(UAE)%2C%209%20wickets%20at%2012.44%3Cbr%3E2%20Mohammed%20Rohid%20(UAE)%2C%207%20at%2013.00%3C%2Fstrong%3E%3Cbr%3E3%20Fazalhaq%20Farooqi%2C%2017%20at%2013.05%3Cbr%3E4%20Waqar%20Salamkheil%2C%2010%20at%2014.08%3Cbr%3E%3Cstrong%3E5%20Aayan%20Khan%20(UAE)%2C%204%20at%2015.50%3C%2Fstrong%3E%3Cbr%3E6%20Wanindu%20Hasaranga%2C%2012%20at%2016.25%3Cbr%3E%3Cstrong%3E7%20Mohammed%20Jawadullah%20(UAE)%2C%2010%20at%2017.00%3C%2Fstrong%3E%3C%2Fp%3E%0A
Updated: March 30, 2022, 11:09 AM`