Bahrain Development Bank launches $100m VC fund

Dubai

Bahrain Development Bank (BDB) said on Thursday it has launched a $100 million Venture Capital Fund of Funds aimed at boosting the start-up ecosystem in Bahrain and the Middle East.

The Al Waha Fund of Funds will invest in venture capital funds that have a presence in Bahrain — providing additional capital to funds supporting start-ups in Bahrain and across the Middle East, the bank said in a statement.

“We know that access to capital is one of the biggest constraints on growth for start-ups, so this fund will help businesses in Bahrain and across the Middle East to get access to the capital they need to expand,” Khalid Al Rumaihi, Chairman of BDB, said.