KBW Ventures invests in UAE video app

Start-upA Saudi venture capital firm has led a funding round for a UAE-based startup offering an immersive video app. KBW Ventures helped raise $5.8 million in series A capital for 360VUZ, which will be used to help the app developer expand its sales base to Asia, Europe and North America. Other Mena-based venture capital firms that participated included Shorooq Partners, Hala Ventures and 500 Startups. The size of KBW’s investment was not disclosed but it is the firm’s first investment in a UAE-based technology startup. The deal may have been sparked by the increased interest in video-based technology since the coronavirus pandemic restricted people around the world to their own homes. According to 360VUZ, its app has enjoyed a 297% increase in user engagement during the last 30 days. In addition, technology market intelligence firm, IDC, forecasts that worldwide spending on augmented and virtual reality products will reach $18.8 billion by the end of 2020 with consumer spending accounting for $7 billion. © 2020 funds global mena

Executive Interviews

INTERVIEW: ‘Financing is the blood of Iran’s economy’

Amid a fresh wave of American sanctions, Romil Patel spoke to Meysam Hamedi, director of financial markets and instruments at Iran’s Securities & Exchange Organization (SEO).

INTERVIEW: Totally mega

In 2016, global consulting firm PWC forecast the emergence of five global ‘megatrends’ in the next two decades. Stephen Anderson, its Middle East clients and markets leader, talks about their...

INTERVIEW: Protecting the investment

Rasmala’s trade finance fund recently passed $100 million in assets. Doug Bitcon, head of credit strategies, explains why he has to be hands-on.

EXECUTIVE INTERVIEW: A natural interest in the topic

Since 2016, Guillermo Ortiz has been a chairman of Latin America’s BTG Pactual. The former central banker of Mexico talks to Nick Fitzpatrick.


Middle East Investor Roundtable 2020: Dimensions of diversification

Investors in the Middle East consider the tools that will be needed to navigate the Covid-19 crisis, the continued appetite for dividend and why it’s all about tech. Chaired by Romil Patel.

South Africa asset management roundtable: Global rebound on ice

Experts discuss the investment implications of the coronavirus pandemic, a delayed rebound in global growth and dealing with South Africa’s energy issues head on. Chaired by Romil Patel in Cape Town.

South African roundtable: Taking the bull by the horns

Our panel discusses Chinese investment in Africa, financial institutions’ contribution to economic sustainability and regulatory concerns. Chaired by Romil Patel in Cape Town.

ROUNDTABLE: Hooked to the global caravan

With the MENA region at a tipping point, our panellists talk about economic diversification, the impact of regulation and the delayed Saudi Aramco listing. Chaired by Romil Patel in Dubai.