Free Legal Advice

Bahrain’s Economic Development Board (EDB), the organization tasked with laying out the pillars for a sustainable economic growth in the Kingdom, has declared the ‘superfund’ worth $100 million will be up in the next few weeks. The goal of this new fund will be to project Bahrain as the ideal destination for venture capitalists across the region and elsewhere.

Because of its small size and population, Bahrain happens to be the smallest economy among the GCC countries. However, it is also one of the fastest growing economies in the region, which is hardly surprising considering the effort the country’s private and public sectors have poured into making it a hotbed for technological innovation and entrepreneurial success.

“We’re putting in place in the next month or so a ‘fund of funds’, which will aim to attract venture capitalists in Bahrain. They don’t have to only invest in Bahraini companies, they can invest from Bahrain in startups across the region,” said Simon Galpin, managing director of the EDB, while discussing the new “superfund” initiative with the media.

According to Mr. Galpin, the ultimate objective of the EDB is to play a supportive role by filling the gaps in the funding of innovative Bahraini-based startups.

Jenan Al-Mukharriq

Jenan Al-Mukharriq

A highly driven organizing member of the StartUp Bahrain ecosystem. And a Project Manager at Matter In Hand with a passion for content creation and empowering communities.