alf yad fund announces significant local venture capital investments
Young Arab leaders and Daman Investments partner with Al Islami Foods
and Ali Al Aidarous Legal Practice
Alf Yad Limited LLC, a Dubai based venture capital fund today announced two venture capital investment deals.
Alf Yad is a joint venture between the UAE Chapter of the Young Arab Leaders and Daman Investments PSC - Daman Investments is also manager of the fund. The investments involve two major, locally owned and managed Dubai based firms, Al Islami Foods and Ali Al Aidarous Legal Practice LLP. Commenting on the investments, Mr. Tariq Baker, Chairman of the YAL UAE Chapter said: “We are very proud to announce our first two investments. Our goal is to empower young entrepreneurs who are destined to become the leaders of the future. In today’s increasingly challenging world, we stand as support to give those future leaders the opportunity to excel. So many of today’s youth have the talent of creativity that allows for so many great ideas, only those ideas need the funding and support to take them into the light of day and that’s what we’re here for.”
When asked about the selection of the specific projects, Mr. Shehab Gargash, CEO of Daman Investments, the Alf Yad fund manager said: “The two groups are well qualified and experienced in their specific area of expertise. Both have solid business plans that required development capital for rapid expansion, which is where Alf Yad plays its part with capital injection and advisory services. We are very pleased to welcome the innovative Al Islami Cart franchise operations as a perfect fit for our spirit of fostering entrepreneurial excellence and building local human capital. Ali Al Aidarous Legal Practice is known for its excellent, highly successful locally based practice. As they now want to expand operationally, we believe that they are the perfect model for other individually owned businesses seeking significant venture capital partner relationships.”
