The fund is being anchored by a US$500 million commitment from ADIA. It will target pre-stress and distressed opportunities, with a focus on providing financial support to pre-stress businesses.
Nivaura's large seed funding round is being led by the London Stock Exchange, the sixth-largest exchange in the world by volume, and stands to change the way investors and companies connect.
The UK-headquartered bank was reported to be in talks with Saudi Arabia's authorities since 2017 for a full license.
Some of the world’s biggest banks yesterday joined forces to invest in a London-based startup determined to change our relationship with money.
ADCB and UNB will merge and together acquire Al Hilal Bank for nearly $272 million. The deal is expected to close within the first half of 2019.
SAMA and UAECB agreed that concentration in the initial stages will be on technical aspects, and use of the currency will be restricted to a limited number of banks in each state.
Last year, Saudi Arabia’s Alawwal Bank launched a branch that was the first of its kind in the region, and the world. Businesses in all sectors can learn lessons from it.
Oliver Wyman’s State of Financial Services Report, launched at the World Economic Forum Annual Global Meeting, describes an emerging "greenfield" approach.