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FINANCIAL NEWS
Dubai Wamda invests USD 60mn of its first funding
18 Jan 2016
(MENAFN) The Dubai-based project capital Co. Wamda Capital has financed 40 percent of its initial phase funding 11 firms ahead of schedule, despite slower economic growth.
Additionally, the Company invested USD 60mn in a first round of funding out of a USD 75mn local growth stage investment fund, and it aims to raise the rest this year.
“We thought we would invest over four years but we are seeing many more start-ups and growth companies than we anticipated originally,” said chairman of Wamda.
The Company typically invests up to USD 5mn in a single technology firm that has growing income in the area.
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