North Africa

Golden Gate Ventures Expands Influence in MENA

Golden Gate Ventures, a venture capital fund rooted in Singapore by Silicon Valley pioneers, announced the launch of its maiden Middle East and North Africa (MENA) office in Saudi Arabia. This strategic move aims to fortify connections between Singapore and MENA while fostering the rapid growth of the MENA startup landscape.

Vinnie Lauria, Founding Partner of Golden Gate Ventures

Vinnie Lauria, Founding Partner of Golden Gate Ventures, emphasized the potential of the entrepreneurship link between MENA and Singapore, foreseeing an unparalleled ripple effect. He highlighted the groundwork laid in the MENA region since 2014, acknowledging its potential for a thriving startup community.

Lauria explained, “The inauguration of our inaugural MENA office aligns with our strategy of being the first to explore new opportunities in startups, sectors, and regions.”

This expansion signifies Golden Gate Ventures’ evolution into a global venture capital firm and underscores its proficiency in nurturing emerging startup ecosystems. Lauria emphasized their track record as pioneers in Singapore and Vietnam’s burgeoning startup scenes and their current opportunity in the GCC to connect two vibrant startup hubs.

In October 2023, Singapore and Saudi Arabia elevated their relationship to a ‘strategic partnership,’ focusing on trade, investment, green energy, and the digital economy. Similarly, Singapore and the United Arab Emirates (UAE) strengthened their economic ties, especially in technology, artificial intelligence (AI), and space innovations in 2021.

The MENA office will be led by Abdulrahman Al-Qahtani, a General Partner with substantial investment experience in Saudi Arabia, and Hussain Abdullah, a Senior Advisor based in Qatar with profound global investment expertise in the MENA region.

Michael Lints, a partner at Golden Gate Ventures

Michael Lints, a partner at Golden Gate Ventures, will oversee efforts in MENA, aiming to forge strategic synergies between Singapore and the GCC for entrepreneurial growth.

Lints remarked, “Establishing our first MENA office is the culmination of nine years of fostering deep relationships across the region, cultivating networks, and assembling a seasoned team with a profound understanding of MENA’s evolving opportunities.”

Golden Gate Ventures Expands Influence in MENA

Golden Gate Ventures intensified its involvement in MENA after collaborating with startup ecosystem partners in the Gulf Cooperation Council (GCC). Hussain Abdulla highlighted the potential for Golden Gate Ventures’ strong presence to attract talent and capital, fostering the VC ecosystem in the GGC region.

The venture capital firm has actively supported entrepreneurship development by mentoring founders from MENA through programs like Endeavor. Additionally, Golden Gate Ventures has facilitated international networking opportunities, such as hosting events and camps, sharing insights on funding and investment, and participating in influential industry gatherings like the Future Investment Initiative in Saudi Arabia.

Abdulrahman Al-Qahtani expressed excitement about Golden Gate Ventures’ commitment to the Gulf region, emphasizing the significance of this new chapter in their relationship.

Golden Gate Ventures, established in 2011, operates as an early-stage venture capital firm spanning three continents. With a portfolio that boasts over 90 companies, including nine unicorns and two IPOs, the firm stands as a testament to empowering ambitious founders globally. Notable investments include Carro, Coda Payments, Stripe, Carousell, Xendit, AngelList, and Multiplier.

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