Bupa Arabia invests in UAE-based venture capital firm

UAE-based venture capital firm Global Ventures has announced new investment from Bupa Arabia.

Bupa Arabia’s participation in Global Ventures Fund II as strategic partner will foster the healthcare ecosystem in the region and particularly in Saudi Arabia. The investment by Bupa Arabia is part of the company’s strategy to participate and invest in disruptive healthcare and insurance technologies, amongst other targeted growth sectors. The company had recently announced receiving regulatory approvals to establish Bupa Arabia Ventures; which will expand its investment portfolio in technology companies.

Global Ventures’ second fund is focused on technology companies addressing critical needs and demands in recently accelerated industries. It continues to be a leading provider of capital and value creation for start-ups in the region, with a timely and increasing focus on Digital Health.

Global Ventures invests in emerging market founders, technology and ideas scaling across MEA and the world. To date, Global Ventures has invested in 44 companies, across 10 markets, using capital from its two funds.

Noor Sweid, founder & general partner of Global Ventures, commented: “Global Ventures’ Fund I has been a great success, and we are delighted to welcome Bupa Arabia to Fund II, and also join us in a deeper, strategic partnership. Bupa Arabia shares our outlook and ambition on the Digital Health sector, and its potential for technology and innovation to deliver long-term economic benefits particularly in emerging markets.”

Nader Ashoor, chief financial officer of Bupa Arabia said: “We are excited about Global Ventures’ Fund II prospects. We are quite pleased with Global Ventures governance, capabilities, investment approach and track record, and look forward to activate our strategic partnership in the new future.”