With the increase of interest in the start-up ecosystem in the Middle East, corporates and venture capital firms have also started looking outside the region to find promising start-ups to partner with or invest in. The United States, with Silicon Valley and other start-up hotspots, has been a main destination for investment capital in start-ups. Just recently, Mubadala, the Abu Dhabi-based investment firm, announced that it would be opening an office in California to invest directly and indirectly into the start-up ecosystem there.
CE Ventures, the venture capital arm of Crescent Enterprises, has become the latest Middle Eastern company to invest in a foreign startup — EdCast, a Silicon Valley-based AI-powered Knowledge Cloud solution. The startup has raised $33.6 million in investment from the well-known Japanese investment firm Softbank, as well as REV Venture Partners, London Fund and CE-Ventures, among others, and is expanding operations in the MENA region. Learn more about the latest foreign investment by a Middle Eastern firm here.