Trowers International Corporate team advises on establishment of the region's first FinTech Venture Studio
Trowers & Hamlins has successfully advised on the establishment of the MENA region's first FinTech Venture Studio (the "Venture Studio").
The Venture Studio is a joint venture project between our client Al Waha Fund of Funds, a Bahraini sovereign initiative which invests in venture capital funds, and Hambro Perks, a UK-based international investment firm specialising in start-ups.
The establishment of the Venture Studio demonstrates our continued support for Al Waha within the FinTech space and our expertise in the sector. Our support for Al Waha in this exciting project, the first of its kind established in the region, was led by Corporate Partner Nick Green, assisted by Senior Associate Matthew McDonald.
Nick Green commented: “We are delighted to have been able to support Al Waha in this market-first initiative, and look forward to its impact and the platform that it will provide for Bahraini talent both inside and outside of the Kingdom.”
This investment will focus on the nurturing of the next-generation FinTech start-ups and entrepreneurs in the Kingdom of Bahrain. It aims to create an educational space for both local and international talents and create new highly skilled jobs for them. The Venture Studio will also offer internships and will partner with local institutions for educational purposes.
This latest investment by Al Waha is a testament to the successes of the Kingdom in positioning itself as an innovation centre and key player in the regional FinTech and Innovation ecosystem. The Venture Studio will in particular support, incubate and source investments into Bahrain-based FinTech start-up companies helping to turbo charge growth in one of the Kingdom's key future economic sectors.
Al Waha Fund of Funds is a Bahraini government-led initiative targeted to seek investment in venture capital funds that will invest directly, or indirectly, in the MENA region, with a particular focus on Bahrain. Al Waha Fund of Funds stakeholders consist of significant Bahraini institutions including Tamkeen, Mumtalakat, Osool, Batelco Group, National Bank of Bahrain and Bahrain Development Bank Group.
Trowers & Hamlins' Bahrain Corporate team is ranked as a Band 1 International Firm by both Chambers & Partners and Legal 500.