Middle East Venture Partners (MEVP), our co-investors in Volt, announced this week that Mohamed Alabbar, chairman of Emaar Properties, has acquired a stake in the general partner which manages its funds.
The details of the transaction aren’t disclosed. However, given the size of Alabbar’s recent moves with Noon.com in the Middle Eastern e-commerce space, it’s likely a sizable transaction. This will give MEVP much more firepower with which to invest while retaining the MEVP team’s operational control over its investments.
I congratulate the MEVP team on the transaction and look forward to seeing its positive impact throughout the region.
Also published on Medium.