GII launches sharia debt fund

Dubai-based Gulf Islamic Investments (GII) has launched a US$100 million shariah-compliant debt fund.

The GII Debt Fund-1 will invest in GCC-based businesses in sectors such as consumer, healthcare, education, logistics and technology.

It will also target high-growth Indian companies looking to expand in the Mena region as well as internationally.

The fund launch has been partially motivated by the growth of the venture capital market in the region.

Activity reached record levels in 2021 with $2.6 billion of investment, mostly in UAE and Saudi Arabia.

However, according to GII, the use of venture debt is below the global average in both the GCC and Indian investment markets.

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