ABAN Hosts Fourth Annual Entrepreneur - Investor Matchmaking Event in Partnership with Young Arab Leaders

DIC Subsidiary Holds Networking Event to Facilitate Opportunities for Seed Capital Investing

Dubai: 26 October, 2008 – The Arab Business Angels Network (ABAN), a subsidiary of Dubai International Capital (DIC), in partnership with Young Arab Leaders (YAL), hosted its 4th annual entrepreneur-investor matchmaking event, taking forward the concept of angel or seed capital investing, a relatively new phenomenon in the Middle East.

The event, held on 20 October at the Dubai International Financial Centre (DIFC) and covered exclusively by CNBC, ABAN’s media partner, spotlighted three aspiring start-ups including White Smile, a project specializing in professional teeth whitening, oral detoxification, and cleansing therapies; Chipmunk, a franchise of an eclectic range of baby products from Belgium; and Khayal, an Egyptian game production company..

ABAN’s matchmaking events offer entrepreneurial ventures in the MENA region an opportunity to showcase their businesses and connect with high net worth investors seeking start-up investment opportunities. The affluent investors, termed angel investors, provide capital for business start-ups, typically in exchange for ownership equity.

ABAN’s partnership with the Young Arab Leaders in hosting the matchmaking event reiterated its endeavour to spotlight new business ventures and innovative opportunities offered by dynamic entrepreneurs. YAL is an association comprising high-achieving, ambitious local business people, keen to maintain strong local networks and promote regional businesses.

H.H. Sultan Al-Qassemi, Chairman of YAL-UAE Chapter, said:

Young Arab Leaders has been established in order to empower the youth of the Arab world. YAL has previously participated in several entrepreneurship empowering activities such as the Arab Business Challenge in conjunction with the Arab Business Angels Network.

The United Nations Development Program 2005 Report on Arab Youth states Arabs in the 15-24 age group represents the largest in the region. It also stresses on the importance of education and investment in entrepreneurial projects across the region. It is in this context that the UAE chapter of the Young Arab Leaders and ABAN held this joint event to synergise their network and allow maximum exposure for high-potential projects.

Walid Hanna, CEO of ABAN, said:

ABAN is pleased to be part of the growth of the region’s economic and commercial future. SMEs form the cornerstone of major economies, and by offering exciting opportunities for the region’s aspiring entrepreneurs, we serve as a catalyst for continued growth and stability in the Middle East region.

 In the past year, ABAN has signed up with several leading regional and international organisations to pool resources and promote entrepreneurialism, innovation and knowledge creation in the region.

Hanna added:

The partnerships that ABAN has forged with London Business Angels, Microsoft Corp, Young Arab Leaders, and the British Business Group have proved critical in helping us maximise awareness throughout the investor community, thereby increasing our deal flows.

Recently, ABAN joined forces with the Mohammed Bin Rashid Al Maktoum Foundation to foster entrepreneurship among women across the Arab region. ABAN has also collaborated with Dubai Internet City, one of the world’s largest managed ICT clusters and a member of TECOM Investments, to source new entrepreneurial ventures in the high-growth technology sector for further developing the region as a knowledge-based economy.

In addition, ABAN has partnered with Bader Group to support the establishment of a business angels networks in Lebanon. It has also signed an MoU with the Al Ahli Holding Group (AAHG) to promote developmental, cross-learning relationships between Emirati youth and the youth of other countries to help groom competent leaders for the future. 

ABAN offers a wide range of benefits to its members ranging from advice and consultancy to financial support and training for selected entrepreneurs. ABAN also supports proposal pitching to investors, and facilitates collaboration and syndication among investors to maximise investment opportunities. 

The Arab Business Angels Network is scheduled to host its next matchmaking event on 15 December for introducing yet another batch of entrepreneurs to regional investors.

Notes to Editors

About Arab Business Angels Network

The Arab Business Angels Network (ABAN) was conceived by the Young Arab Leaders and Dubai Holding during the Clinton Initiative in September 2005, with Dubai International Capital as its founder and lead Angel.

As a Business Angels Network, ABAN is the link between entrepreneurs and Angel Investors. It acts as a vehicle to promote entrepreneurship and to build a community of Angel Investors across the Arab world.Based in Dubai, ABAN aims to build a network of angel investors across the region, particularly in the UAE, Egypt, Jordan and Saudi Arabia. It will complement the economic development objectives of the Arab world by facilitating the development of creative and productive entrepreneurial ventures.

ABAN invests through two main vehicles:
• Angel Investor Members: ABAN is creating a network of angel investors who will invest, with ABAN assistance, in high potential early stage ventures
• ABAN Seed Capital Funds targeting regional start-up companies
o $10m Seed Capital Fund
o $5m fund for women-led ventures Additional information about the Arab Business Angels Network LLC is available at: www.aban.ae

About Dubai International Capital LLC:

Established in 2004, DIC is an international investment company with offices in Dubai and London focused on both private equity and public equity. A wholly-owned subsidiary of Dubai Holding, DIC manages an international portfolio of diverse assets that provide its stakeholders with value growth, diversification, and strategic investments. Assets under management total over US$13 billion. DIC focuses on three asset classes:
• DIC Private Equity: invests mainly in secondary buyouts in developed markets where it backs strong existing management teams over a medium to long time horizon. DIC PE has acquired businesses in a range of sectors in Europe and North America including:
o UK leisure company Tussauds Group for £800m (later merged with Merlin Entertainment Group in a £1,025m merger to create the world’s second largest operator of visitor attractions; DIC retains an 18% stake)
o UK engineering company Doncasters for £700m
o US engineering company FastenTech for $492m (later merged Doncasters with Fastentech creating world leader in turbine manufacture)
o UK hotel chain Travelodge for £675m,
o German industrial packaging manufacturer Mauser for €850m
o UK healthcare company Alliance Medical for £600m
o German producer of specialty alumina Almatis for US$ 1.2 billion
• DIC Global Equities: makes structured investments in large-cap, Fortune 500 global equities, that are forecast to deliver above average returns over the long term, either directly or via DIC’s US$2 billion Global Strategic Equities Fund (GSEF). The GSEF has acquired substantial stakes in HSBC, EADS, and Sony Corporation. DIC has also directly invested in the Indian financial services firm ICICI Bank (2.96%) and Och-Ziff (9.9%) an alternative asset management firm based in New York.
• DIC Emerging Markets: invests in a range of asset classes in emerging markets.
o Equity investments: include significant stakes in the UAE-based luxury retailer Rivoli Group and Singapore-based True Group, a leading provider of wellness services in South East Asia, in addition to a US$200 million investment in Oger Telecom, a leading regional telecom conglomerate.
o Sector / country-specific investment funds: DIC has established several such as Ishraq, a US$150 million investment company bringing the Holiday Inn Express brand to the Middle East; the US$500 million MENA Infrastructure Fund, which invests in infrastructure projects in the Middle East and North Africa; Jordan Dubai Capital, a US$300 million investment company that targets private equity opportunities in Jordan; and most recently China Dubai Capital, a US$1 billion fund that will target opportunities in China’s growing economy. DIC was named MENA Private Equity Firm of the Year in the 6th annual Awards for Excellence in Private Equity Europe 2008, organised by Dow Jones Private Equity News.

Further information about Dubai International Capital LLC is available at: www.dubaiic.com.

For media queries, please contact:

Elle Sharma
Jiwin Public Relations
Tel: +9714-3613586
Mob: +97150-1139418
Fax: +9714-3688001
Email: elle.sharma@jiwin.ae