Diversification in new asset classes needed, says NEEI

DUBAI - New Enterprise East Investments (NEEI), a UAE based venture capitalist firm with offices in UAE, Bahrain and the US, is overwhelmed with the response from the local market. As NEEI is about to close the first round of its Gulf Venture Capital Fund I (GVFI) they are a prime target for local entrepreneurs. The company is inundated with proposals and business plans from local entrepreneurs who look to start up business in the GCC and seek venture capital to support their ideas.

By (By a staff reporter)

Published: Tue 12 Aug 2008, 12:04 AM

Last updated: Sun 5 Apr 2015, 11:52 AM

While Venture Capital funding is not yet as well understood as Private Equity, NEEI is attracting interested parties in the Middle East. Deemed to the become the fifth largest economy in the world, the Middle East needs to diversify its asset classes from private equity and real estate and offer new investment opportunities to investment firms and individuals alike according to NEEI's founder and CEO, Fred F. Korangy.

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