Creative Dock Group (CDG), Europe’s corporate venture builder, acquired Founderslane recently. As part of the acquisition, the group launched FoundersLane Egypt to manage the company’s operations inside Egypt for the coming period. Creative Dock Group’s plan is to invest more than €100 million in the sector over the next five years.
Mohamed Abulnaga, Founder of PIE, will take the position of Founders Lane Egypt’s Chairman and Anas Rabah, Vice President Commercial of Klivvr, will be the Managing Director.
“FoundersLane has a very strong and passionate team not only in Europe but also in the Kingdom of Saudi Arabia. They have made an important mark and hold a strong ventures track record in the MENA region, which is going to be one of the focus regions for the whole group. Overall, many countries in the MENA region are also moving in a similar direction, increasing their focus on the digital economy and introducing strategic initiatives to enhance digitalization. We want to help transform and accelerate the MENA region into a state-of-the-art digital economy and we are ready to invest EUR 100 mil. into the region over the next few years,” Martin Pejsa, Creative Dock Group’s Founder & CEO, said.
Read more: Saudi Arabia to launch $80b Neom Investment Fund
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