Middle Eastern Family Offices

DAMAC Group, a Dubai-based private business conglomerate, has acquired stake in Anthropic, a US AI startup for $50 million.

Founded in 2021 and with roughly 500 employees, Anthropic aims to study the safety and reliability of AI systems. It has developed a family of large language models called Claude, which is a competitor of OpenAI's ChatGPT and Google's Gemini.

(Established in 1982, DAMAC Group is owned and managed by Hussain Sajwani. Its diverse portfolio spans various industries including Property Development and Real Estate, Data Centres, Retail and Fashion, Hospitality, Capital Markets, and Logistics.)

To see a list and email addresses of investment firms similar to Damac check the Middle East Investors Directory.

Watar Partners, a Saudi advisory firm for private family offices, has participated in a $700 million investment in Wonder, a New York based food delivery business.

Established in 2018, Wonder is a food delivery enterprise offering access to a variety of restaurants within a single order. It was founded by serial entrepreneur and former Walmart e-commerce chief Marc Lore. (Watar Partners, established in 2014, provides financial advisory services to the private investment offices of select families. It has offices in Saudi Arabia and UAE and is led by Abdulwahab A Al Betairi, Tarek Al-Rumaim and Muhammad Humayun Latif)

Watar Partners is listed in the Middle East Investors Directory with the code AJ27.

Abu Dhabi investment firm International Media Investments, has taken part in a $158 million debt financing in The Very Group, a UK-based online retailer.

The Very Group, based in Liverpool and established in 1861 from as a mail-order catalogue business, generates £2.15 billion in annual revenue. It operates digital retail brands Very and Littlewoods, serving 4.4 million customers. (International Media Investments IMI is an Abu Dhabi private investment firm owning media brands like The National and CNN Business Arabic and stake in EuroNews. They also invest globally in media brands through Redbird IMI, a partnership with Redbird Capital Partners. More details about the deal is here)

International Media Investments is listed in the Middle East Investors Directory with the code JU14.

Saudi investment firm Aramco Ventures and a consortium has acquired stake in Pulsora, a A US-based platform for enterprise sustainability management for $20 million.

Founded in 2021, Pulsora helps more than 400 businesses measure, report, and improve their sustainability and ESG initiatives. Other investors include Carica Sustainable Investments, Sabancı Climate Ventures, and JetBlue Ventures (Aramco Ventures is the corporate venturing arm of Saudi Aramco and is based in Dhahran Saudi Arabia.)

Aramco Ventures is listed in the Middle East Investors Directory with the code BS15.

A consortium of investors from the Middle East, led by Cibola Capital, has acquired Australian Patinack Farm for $100 million.

The Sydney Morning Herald is reporting that the current owner Nathan Tinkler has invested more than $500 million in the operation of this racing and breeding operation since its inception in 2007. (Patinack Farm comprises of three properties including a 3,300 acre breeding facility, a 1,000 acre training facility and 950 acres of undeveloped horse country and a bloodstock of close to 600 horses)

To see listing and contact emails of investors and family offices from the Middle East, check our 2014 edition of Middle East Investors Directory

More details follows from The Sydney Morning Herald and their release

AC Milan co-chief executive Barbara Berlusconi, daughter of Silvio Berlusconi, said she would travel to the Middle East to seek investors for the club.

The family of former Italian premier is considering selling a stake of up to 30 percent in AC Milan. Some other Italy clubs are already controlled by foreign investors: Indonesian business tycoon Erick Thohir and partners bought a majority stake in Inter Milan last November. Fellow Italian club AS Roma is controlled by an American investment group.

To see listing and contact emails of investors and family offices from the Middle East, check our 2014 edition of Middle East Investors Directory

More details follows from Reuters:

Italy's $8 billion jewelry industry is drawing interest from Middle East investors, with one deal to be announced very soon - Reuters is reporting.

"We've seen acquisitions in recent years of companies like Pomellato and Bulgari and it's not over. We should see something very soon from a Middle East player," says Corrado Facco, managing director of VicenzaORO fair, one of the world's top gold jewelry fairs. "A lot of foreigners are looking and we've had a series of offers", Italy's famous jeweler Roberto Coin told Reuters.

(And if Italian jewelry industry is not enough, Middle East investors can, meanwhile, acquire Italian football clubs; Cagliari is close to being taken over by a Qatar investment group for around $100 million)

To see listing and contact emails of investors from the Middle East, check our recently updated Middle East Investors Directory

More details from Reuters here.

An unnamed Middle East investor has approached NBA commissioner last month to buy one of four NBA franchises - Financial Times is reporting.

No deal has been reached so far, but the NBA commissioner David Stern says the takeover of some of the 30 NBA franchises by overseas investors is inevitable. (It is estimated that LA Lakers and the New York Knicks are worth more than $1 billion, and the NBA is expected to generate $5.5 billion in revenues this season.)

To see listing and contact emails of investors from the Middle East, check our Middle East Investors Directory

More details from Financial Times here.