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MENA Private Equity and Venture Capital Report

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MENA Private Equity and Venture Capital Report MENA Private Equity and Venture Capital Report 2014 2 MENA Private Equity and Venture Capital Report 3 MENA Private Equity and Venture Capital Report Foreword With Gratitude Dear friends and colleagues, and networks, and who benefit from the The MENA Private Equity Association Media Task Force experience of investing through economic I am honoured to introduce the 9th edition We are grateful for the public relations and media cycles and periods of political volatility. Extends its sincere appreciation to Zawya for sharing campaign support from the following: of the “Private Equity & Venture Capital primary data and industry and to our knowledge in the Middle East Report”, a publication Bringing such seasoned professionals partners Deloitte for developing the report analysis. Nahed Ashour, Senior Manager Arabic Content and that has become a leading barometer of together; the MENA Private Equity Media, Capital MSL our industry and, indeed, of the region’s Association gives the industry a strong and economic development. clear collective voice, and acts as a link to similar associations around the world. In the decade since the report began, private Deloitte Sponsors equity has established a strong foothold, Compiling this report is an important part of Declan Hayes, Managing Director, Deloitte Corporate weathered a global economic crisis, and the association’s work, serving to promote Finance Limited Without the support of the following generous emerged stronger. It is clear that although greater transparency in the industry and to sponsors, this report would not have been global perceptions may be clouded by news enhance knowledge of the impact of private Sam Surrey, Director, Deloitte Corporate Finance possible. coverage of geopolitical instability, investors investment on the economy. In this way, the Limited with deep knowledge of the region are association complements the work carried as positive as ever about the tremendous out every day by fund managers across Zawya opportunity on offer in countries that have the region as they gain the interest and Ali Arab, Product Manager, Zawya Financial Solutions, developed rapidly in so many aspects. confidence of international investors. Thomson Reuters This report shows that in 2014, investment I would like to express great appreciation to Josiane Assaad, Content Manager, Zawya Investment levels are at the highest level since the global Lina El Zein, Director of the MENA Private Monitors, Thomson Reuters HEALTHCARE PARTNERS financial crisis. The average deal size is Equity Association, and her support team also on the rise, driven in part by a number and advisers, who support our cause with Youmna Akiki, Research Associate, Zawya Investment of large consortium transactions in the six such enthusiasm and dedication. Last but not Monitors, Thomson Reuters countries of the Gulf Cooperation Council. least, we would very much like to thank the And we are seeing more international private sponsors of the association and of this report. Steering Committee equity participation. Sincerely Yours, We also thank the association’s steering committee General partners will be encouraged by members for their contributions towards the fundraising increasing to the highest level Dr. Helmut M. Schuehsler development of this report. since 2008, with the amount in 2014 double Chairman & CEO, TVM Capital Healthcare Dr. Helmut Schuehsler, Chairman & CEO TVM Capital that of the previous year. This has been aided Healthcare Partners Partners by an increased volume of successful exits. Haythem Macki – Founder & Managing Partner, With the consumer story only just Growthgate Capital getting underway – driven by youthful Huda Al-Lawati, Managing Director, The Abraaj Group demographics, rising incomes, and relative under-penetration of many goods and Imad Ghandour, Managing Director, CedarBridge services -- the MENA private equity industry is Partners offering investors exposure and growth that Samer Sarraf, UAE Country Head, Amwal AlKhaleej is often purer than that found in public equity markets. The industry is well served by a roster of fund managers with strong regional expertise 4 MENA Private Equity and Venture Capital Report 5 MENA Private Equity and Venture Capital Report Sponsor Profile HEALTHCARE PARTNERS Sponsor Profile TVM Capital Healthcare Partners environmental sustainability. TVM Capital Healthcare BECO Capital for the Corporate Venture Capital arm of a FTSE 500 advocates ethical behaviour in all of its activities as company in London, which invested in 4 companies TVM Capital Healthcare Partners was established in well as a transparent and open consultation processes BECO Capital is a Venture Capital firm that provides and exited 6 over 24 months. Later, he helped 2009 as part of TVM Capital Group, an affiliation of with stakeholders. The close engagement with TVM early stage growth capital and hands-on operational establish and manage the first ever seed capital globally acting venture capital and private equity Capital Healthcare’s portfolio companies on social, support for technology companies in the MENA fund in the MENA region out of Dubai, as part of a firms with an operating track record of 30 years, environmental and governance (ESG) aspects, fosters region with a focus on the GCC. Founded in 2012, Government-led initiative. and has since then been led by Chairman & CEO, a deep awareness and understanding of ESG issues BECO Capital is led by a team that enjoys a solid Dr. Helmut M. Schuehsler. TVM Capital Group has that protects and enhances the value of investments, and diverse track record across the venture capital, Alvaro was previously with Gulf Capital, joining at financed more than 130 healthcare and life science ensures responsibility towards environment and technology, entrepreneurial and financial sectors. The inception in 2006, responsible for its TMT investments companies and has documented its success as a society, and attracts and retains a motivated and Firm is a hands-on partner that assists its portfolio conducting all investment activities with a prime growth capital investor through 45 initial public loyal workforce which shares the firm’s pursuit of companies to grow organically and expand to new focus on post-acquisition. Alvaro also has extensive offerings from its portfolio. The firm is focusing on excellence. markets across the GCC, acquire key talent, implement TMT consulting experience having worked for various making highly specialized growth capital and small operational improvements, adopt corporate firms such as Booz & Co and Diamond Cluster/Oliver buyout investments in healthcare companies in the governance practices and raise growth funds. BECO Wyman across the world.” Capital also offers follow-on funding to its portfolio Middle East and North Africa (MENA) region and India that are or target to become leaders in their Contact Information companies and helps line-up large regional investors regional markets. The firm has assembled a strong and global Venture Capital firms for larger follow-on Contact Information: team of investment professionals who are supported TVM Capital Healthcare Partners Ltd. fundraising rounds. by a group of healthcare operators as executives-in- DIFC Gate Village, Building 4 BECO Capital invests in companies that ride the BECO Capital residence in its accelerator company, TVM Operations technology revolution in our region; solving local Office #1903, Grosvenor Business Tower Group, and TVM Healthcare Advisors, which provides PO Box 113355, Dubai, UAE problems for businesses and consumers, building healthcare focused research and advisory services. T +971 (4) 401 9568 marketplaces that bring consumers and businesses Al Barsha-TECOM Collectively, this team has developed an ability to together and creating efficiencies that never existed P.O.Box 333357 conceptualize and develop business opportunities www.tvm-capital.ae or www.tvm-capital.com before. We strive to identify and support the leading that provide investors with completely proprietary entrepreneurs that will build the break-out companies Dubai, UAE deal flow and investment opportunities. TVM Capital in the MENA digital space. To this end, we have Healthcare Partners has broken new ground with screened over 700 opportunities in the MENA Tel: +971 4 368 7811 four portfolio investments to date in specialized region and invested in 8 portfolio companies, such www.becocapital.com <http://www.becocapital.com services that were either non-existent or drastically as Propertyfinder, that allows consumers to find the undersupplied, e.g., long-term care, rehabilitation, right property for rent and/or sale in an efficient and home care and world-class fertility treatment. A fifth transparent manner; Careem, that allows corporate investment focuses on the area of medical device users and consumers alike to book cars with drivers development and manufacturing. The firm operates either on demand or on a pre-scheduled basis out of the Dubai International Financial Center (DIFC) throughout 16 cities in the MENA region; and Bayzat, and is licensed and regulated by the Dubai Financial that helps corporates choose the most efficient Services Authority (DFSA). medical insurance for their staff. As of 31.12.2014 TVM Capital Healthcare Partners BECO Capital is led by three partners: Dany Farha, and its five portfolio companies, ProVita Internatioanl Amir Farha and Alvaro Abella. Medical Center, Cambridge Medical &Rehabilitation Center, Manzil Health Care Services, Bourn Hall Dany co-founded
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