Dubai angel investors Arya Bolurfrushan and Paul Kenny just announced the launch of a new venture capital firm, Emerge Ventures, with three investments already made from their pipeline.
Paul Kenny is the ex-CEO of daily deal site Cobone which was sold for a reported $40 million to Tiger Management. Arya Bolurfrushan of Bolurfrushan family, a prominent industrial and mercantile family of Iranian origin, is a young Harvard-educated angel investor with a track record of 24 investments. (Emerge Ventures has already made its first three investments: The Impact Hub, an incubator, Lumba, a silicon valley based mobile gaming company, and Elevision, a digital media network.)
Emerge Ventures is listed in the Middle East Investors Directory with the code SINDE1.
More details follows
The financial terms of the deal were not disclosed, but local online news service eDaily said Entekhab offered slightly more than $540 million. It is the fourth attempt to sell Daewoo Electronics, once the flagship unit of the failed Daewoo Group and now almost wholly owned by its creditors. Daewoo sold off non-core assets and unprofitable businesses to focus on washing machines and refrigerators.
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More details from the Reuters follows
Iran Tourism Development Company sold the former 5-star 370 rooms InterContinential Hotel in Tehran (plus three of its other smaller hotels and complexes) to an unnamed Iranian investor through a tender process for $130 million.
The base price for Laleh Hotels (the new name of InterContinential Hotels after Iranian revolution) has been $95 million and had been advertised on Iranian English papers (PDF), their website, as well as other sources like MEED. It was open for foreign bids as well.
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