Alabbar Acquires Large Stake in MEVP
Middle East Venture Partners (MEVP) announced today that Mohamed Alabbar has acquired a large stake in the company to create one of the leading venture capital investment platforms in the Middle East and North Africa (MENA) region. This investment is part of Alabbar’s strategy to boost the region’s digital economy and follows a series of innovative tech initiatives led by him.
Alabbar said: “While preserving MEVP management’s operational independence, we will extend support to young and emerging digital entrepreneurs with growth capital, strategic advice, and operational support, and help them grow into sector leaders, regionally, and beyond.”
In that context, Walid Hanna, MEVP Founder and Managing Partner, added: “By combining Alabbar’s vision with our team’s VC experience, we will offer regional startups greater opportunities to benefit from inevitable digital disruptions.”