fbpx
Read Watch
Startups

Kingdom Holding Co. invests $229m in Europe’s M&G

by WAYA Staff - Jul 21, 2022
Kingdom Holding Co. invests $229m in Europe’s M&G

Saudi-based Kingdom Holding Co. announces a $229m investment in Europe’s asset management company M&G.

M&G is a UK-based PLC specializing in savings and asset management, and currently has more than $370b in assets under management, making it one of the largest in the sector.

This investment from Saudi’s Kingdom Holding Co. aligns with its widely-diversified portfolio of investment in global market leaders across 18 sectors, and its current goal to expand to new and promising sectors.

It is worth mentioning that earlier this year, Prince Alwaleed sold 16.87% of Kingdom Holding to several Saudi wealth funds for $1.51 billion.

Read more: FMO invests $10m in Algebra Ventures’ second fund

If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.

Recommended stories

Mohamed El-Sewedy acquires Magma through VC firm Averroes Ventures

by WAYA Staff - Jul 21, 2022
Mohamed El-Sewedy acquires Magma through VC firm Averroes Ventures

Magma, Egypt’s sportswear-manufacturer, has been accquired by Mohamed El-Sewedy through venture capital firm Averroes Ventures. The Egypt-based sportswear brand was launched in 2018, and was one of the first Egyptian manufacturers to include features such as antibacterial properties and fast...

Read More

OpenSea to Lay off 20% of Employees

by WAYA Staff - Jul 21, 2022
OpenSea to Lay off 20% of Employees

According to a report from the Wall Street Journal, OpenSea, one of the largest NFT marketplaces, is laying off 57 people from its workforce. In an internal memo to employees, Chief Executive Devin Finzer said he would provide the laid-off...

Read More

FMO invests $10m in Algebra Ventures’ second fund

by WAYA Staff - Jul 20, 2022
FMO invests $10m in Algebra Ventures’ second fund

FMO, the Dutch entrepreneurial development bank, and Algebra Ventures, Egypt’s venture capital firm, signed a $10m commitment for the fund manager’s second fund. Algebra Ventures’ second fund invests in technology start-ups in Egypt with an allocation for the wider Middle...

Read More

Snap launches Snapchat for Web for desktop users

by WAYA Staff - Jul 20, 2022
Snap launches Snapchat for Web for desktop users

Snap announced Monday that it has launched Snapchat for Web, introducing the service to desktop users. Snapchat for Web will be available to Snapchat+ subscribers in the United States, United Kingdom, Canada, Australia, and New Zealand.  After the initial launch,...

Read More

Instagram will now let you shop directly from chats

by WAYA Staff - Jul 20, 2022
Instagram will now let you shop directly from chats

Instagram has announced a new way to shop on the platform in a blog post, letting users make purchases directly from chats, known as Direct Messages (DMs). The company will roll out the new feature to select small businesses and...

Read More

AfricaInvest and USA’s Cathay Innovation close joint $112.8m fund

by WAYA Staff - Jul 20, 2022
AfricaInvest and USA’s Cathay Innovation close joint $112.8m fund

AfricInvest, Tunisia’s investment and financial services company, closes its joint $112.8m fund with American venture capital firm Cathay Innovation. The fund witnessed participation from a range of investors whether individuals or institutions, and has been backed up by several limited...

Read More