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CONSCIOUS INVESTING

Forbes Middle East - English

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December 2024 / January 2025

VentureSouq's cofounders and general partners, Suneel Gokhale, Sonia Gokhale, Tammer Qaddumi, and Sonia Weymuller, are actively reshaping the investment landscape. With $250 million in assets under management, the thematic fund manager is forging a distinct path, with a focus on fintech and climate tech.

-  RAWAN HASSAN

CONSCIOUS INVESTING

The 2024 global venture capital landscape has revealed an emphasis on sustainable growth and measurable impact, though numbers have declined. In the first nine months of the year, venture capital funding rounds globally totaled $203.83 billion, marking a 3.7% drop from the same period in 2023, according to S&P Global. The number of deals also fell sharply, dropping from 13,068 in 2023 to 11,286 in 2024. Regionally, startups in the U.A.E., Saudi Arabia, and Egypt led MENA's funding activity, with startups across the region raising an aggregate of $1.6 billion over the first nine months-a 12.5% decline compared to $1.8 billion during the same period last year, according to data from Wamda.

Despite this, in September, Saudi Arabia reclaimed its position as MENA's top-funded ecosystem, securing $170.8 million across 23 deals. Building on that momentum, Saudi fintech Mala closed a $7 million pre-seed round In October, led by VentureSouq, among other investors, aiming to address MENA's credit gap. At the time, Suneel Gokhale, Cofounder and General Partner at VentureSouq said "There continues to be a massive credit gap in the MENA region, and we are excited about how Mala can help solve this very real problem, particularly for SMEs in Saudi Arabia."

Forbes Middle East - English'den DAHA FAZLA HİKAYE

Forbes Middle East - English

Forbes Middle East - English

SHIFTING ENERGY

For nearly nine decades, Petroleum Development Oman (PDO) has been at the heart of Oman's economic growth. Today, as the first Omani Managing Director of the 88-year-old company, Aflah Al Hadhrami is steering PDO into a new era, one defined by purpose, people, and sustainability.

time to read

7 mins

September 2025 ENG

Forbes Middle East - English

Forbes Middle East - English

SUSTAINABILITY LEADERS 2025

In the Middle East, sustainability continues to move from commitment to action as governments and companies align with global climate goals and national visions.

time to read

3 mins

September 2025 ENG

Forbes Middle East - English

Forbes Middle East - English

NEXT BILLION-DOLLAR STARTUPS

Artificial intelligence dominates this year's list of 25 venture-backed startups we think most likely to reach a $1 billion valuation.

time to read

10 mins

September 2025 ENG

Forbes Middle East - English

Forbes Middle East - English

Money Grows on Trees, Slowly

If you are a very patient investor, you might want to have Angela Davis' CAMPBELL GLOBAL plant you some Douglas fir.

time to read

4 mins

September 2025 ENG

Forbes Middle East - English

Forbes Middle East - English

TURNING WASTE AROUND

Ali Al Dhaheri, Managing Director and CEO of the Tadweer Group, believes that waste can be a powerful resource. As the company strives to divert waste from landfills and reduce emissions in the U.A.E., he's also hoping to have a global impact.

time to read

7 mins

September 2025 ENG

Forbes Middle East - English

Forbes Middle East - English

Crossing Borders

SIDDEEK AHMED, Chairman and Managing Director of travel management company ITL World, expanded the company into the Middle East nearly 20 years ago, having first set up in India. Lured by the rapidly evolving sector then, today he's seeing even more opportunity, both here and abroad.

time to read

4 mins

September 2025 ENG

Forbes Middle East - English

Forbes Middle East - English

FLYING AHEAD

Earlier this year, flynas became the first ever listed carrier in Saudi Arabia to go public, raising $1.1 billion in its landmark IPO. Managing Director and CEO Bander Almohanna now has his sights set on further route expansion and new destinations.

time to read

7 mins

August 2025

Forbes Middle East - English

Forbes Middle East - English

The Vibe-Coding Factory

Stockholm-based LOVABLE has become the world's fastest-growing software startup, hitting over $100 million in annualized revenue in just eight months by using Al to enable millions of non-coders to instantly turn their ideas into websites, apps and online side hustles.

time to read

6 mins

August 2025

Forbes Middle East - English

Forbes Middle East - English

Navigational Hazards

Even with nepotism, protectionism and infinite” liquefied natural gas, THOMAS CROWLEY JR. shows it ain’t easy being the third generation to run an American shipping company.

time to read

6 mins

August 2025

Forbes Middle East - English

Forbes Middle East - English

REDEFINING LUXURY

Noelle Homsy and Chris Nader built luxury ecolodge brand ENVI Lodges to redefine what it means to travel luxuriously and responsibly in the experiential outdoor hospitality space. Now, as they move towards closing their third funding round, bigger plans are on the horizon.

time to read

6 mins

August 2025

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