EFOA Partners with MEVCA to Enhance Middle East Private Capital Landscape
PE News | Dec 11, 2024 | Zawya
The Emirates Family Office Association (EFOA) has announced a strategic partnership with the Middle East Venture Capital Association (MEVCA). This collaboration aims to bolster the Middle East's private capital environment by facilitating knowledge sharing, networking opportunities, and building an ecosystem to benefit Family Offices and venture capital firms. Through a series of exclusive events and workshops, both associations are committed to promoting best practices, innovation, and connectivity within the private capital sector. The initiative notably targets engagement within the emerging venture capital ecosystem, particularly focusing on wealth preservation, asset allocation, and family office involvement in early-stage investments. The partnership intends to tap into the growing interest in alternative assets, underscored by the $637 million venture capital funding reported in the UAE and Saudi Arabia in the first half of 2024. Key figures such as Adam Ladjadj of EFOA and Omar Alkhawaja of MEVCA emphasize the alliance's role in empowering families with the knowledge and tools to explore new asset classes confidently.
Sectors
- Family Office
- Venture Capital
- Private Equity
Geography
- United Arab Emirates – The Emirates Family Office Association and the partnership's base of operations being situated in the UAE highlight its geographic relevance as a hub for private capital activities in the Middle East.
- Middle East – The article discusses collaboration aimed at strengthening venture capital and Family Office ecosystems throughout the wider Middle East region.
- MENA Region – MEVCA's mission and activities are focused on fostering a venture capital ecosystem across the Middle East and North Africa (MENA), emphasizing its broader regional impact.
Industry
- Family Office – The article discusses a partnership involving the Emirates Family Office Association, indicating the focus on Family Offices, which are private wealth management advisory firms that serve high-net-worth investors.
- Venture Capital – The Middle East Venture Capital Association's involvement highlights the focus on venture capital, emphasizing investment into new businesses, particularly at early stages or high growth prospects.
- Private Equity – The collaboration is aimed at enhancing the private capital ecosystem, involving private equity elements through investment strategies and regional growth support.
Financials
- $637 million – The total venture capital funding in the UAE and Saudi Arabia during the first half of 2024, reflecting the growing interest in alternative assets.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Emirates Family Office Association (EFOA) | Partner | Company | An independent, not-for-profit organization supporting the UAE's family office community, fostering collaboration and innovation among its members. |
| Middle East Venture Capital Association (MEVCA) | Partner | Company | An association dedicated to advancing the venture capital industry in the MENA region through knowledge exchange and best practice promotion. |
| Adam Ladjadj | Founder and Chairman of EFOA | Person | Key figure in EFOA leading the partnership to connect venture capital with Family Offices in the region. |
| Omar Alkhawaja | Vice Chairman of MEVCA | Person | Advocate for MEVCA's efforts to drive collaboration and growth in the private capital sector of the Middle East. |