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Bupa Arabia backs Global Ventures’ second fund

Global Ventures, an UAE-based venture firm, has secured an investment from Bupa Arabia for its second fund.

Global Ventures, an UAE-based venture firm, has secured an investment from Bupa Arabia for its second fund. No financial terms were disclosed. The fund is focused on the healthcare ecosystem in the region and particularly in Saudi Arabia.

PRESS RELEASE

Dubai, U.A.E. – 14 December 2021 – Global Ventures, the UAE-based international venture capital firm investing in emerging market founders, technology and ideas scaling across MEA and the world, is excited to announce new investment from Bupa Arabia, the leading health insurance company in the region.

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.

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.”

About Global Ventures
Global Ventures is a UAE-based international venture capital firm, investing in founders and ideas scaling across emerging markets. Global Ventures backs global-minded founders that are leading growth-stage companies and using technology to transform emerging markets.