In a strategic move to support regional innovation, the Arab Fund for Economic and Social Development has announced a new investment through its financing arm, Badir Fund, by partnering with Renaissance 2 Fund, managed by Shorooq Partners.
This collaboration is more than just capital, it’s a strong commitment to helping startups in the technology and essential services sectors thrive, especially at a time when traditional bank financing remains difficult for many early-stage businesses.
Unlocking Access to Smart Capital
Renaissance 2 is a regulated fund under the Financial Services Regulatory Authority (FSRA) at Abu Dhabi Global Market (ADGM). It focuses on providing growth-stage funding to startups in vital sectors, including tech, logistics, fintech, and infrastructure.
- ✅ Flexible Financing Alternatives – Ideal for SMEs often underserved by conventional banks
- ✅ Focus on Innovation – Targeting impactful ventures across tech and essential services
- ✅ Regional Development – Strengthening economic growth across Arab nations
This partnership directly supports small and medium enterprises (SMEs) in gaining access to adaptable financial resources that traditional institutions often hesitate to offer.
Supporting Real-World Success Stories
The fund has already backed promising startups that are transforming industries and solving real problems:
- ✅ Abhi – A Pakistani fintech startup offering salary advance services; recently raised $15 million to expand its platform and reach.
- ✅ The Box – A smart self-storage company; secured $12.5 million to enhance operational efficiency and market penetration.
These examples highlight the kind of high-impact, scalable businesses that Renaissance 2 and Badir aim to empower.
A New Approach to Development Finance
This partnership reflects a growing trend: development funds operating more like venture investors, providing not just financing but also strategic direction and market insight.
- ✅ Private Sector Focus – Encouraging innovation-led growth and job creation
- ✅ Financial Inclusion – Supporting underbanked communities and entrepreneurs
- ✅ Agile Support – Responsive to real-time market needs
Dr. Essam Al-Qurashi, Secretary-General of Badir Fund, emphasized the broader vision:
“This investment unlocks promising opportunities for startups and contributes to expanding financial inclusion across the Arab world, especially for underbanked segments.”
Shared Vision, Stronger Impact
Established in 2009, Badir Fund has consistently worked to finance and technically support SMEs. This latest partnership with Renaissance 2 aligns perfectly with its mission to promote private-sector growth and sustainable employment across the region.
Nathan Khoan, Partner and Head of Credit at Shorooq, added:
“Partnering with Badir is a pivotal milestone in our mission to enable SMEs, leveraging the synergy of our expertise and Badir’s capital to drive sustainable economic development.”