ABAN Signs MoUs to Set Up Three New Business Angel Networks in MENA Region

Dubai-based Network Pioneers Knowledge Transfer Among Top Companies in Saudi Arabia and Lebanon

Dubai: 10 January, 2009 – The Arab Business Angels Network (ABAN), established by the Young Arab Leaders (YAL) with Dubai International Capital as its founder and lead investor, today announced the signing of three strategic memorandums of understanding (MoUs) with companies in the MENA region to collaboratively work towards establishing three new business angel networks in the region.

ABAN’s agreement with the Saudi-based Siraj Capital in Jeddah and the National Enterprise Centre (NEC-Centennial Fund) in Riyadh, as well as the Beirut-based Bader Lebanon will facilitate the creation of the Jeddah Business Angels Network, Riyadh Business Angels Network, and the Lebanese Business Angels Network respectively. Within each of these partnerships, that seek to share knowledge and expertise in the realm of seed capital investing, is the collective understanding that ABAN will counsel the three partner companies on various aspects of establishing and maintaining a local Business Angels Network in their respective cities.

Walid Hanna, CEO of ABAN, said:

ABAN’s recent partnerships with the three new networks will guarantee the continued growth and strength of the region’s small-to-medium business sector. We are delighted to share the depth and scope of our knowledge in angel investing - a resource that we ourselves were fortunate to acquire through our affiliation with the London Business Angels Network, the oldest in Europe with over 40 years of success and an average annual seed capital investment of approximately AED45 million.

The ratification of these three MoUs reflect the integral role that small and medium businesses play in terms of generating growth and momentum within the regional economy. By sharing our acumen and learning with other areas of the MENA region, ABAN is helping drive both angel investing and entrepreneurialism forward, and bringing fresh seed capital opportunities to local small businesses.

The key components of ABAN’s knowledge transfer will include full technical support and skill-set training, as well as extensive onsite training for each of the local networks on global best practices for recruiting angel investors, screening investment opportunities, and nurturing a spirit of entrepreneurialism within the organizational structure. As part of its MENA region knowledge transfer, ABAN will equip each of the three partner networks with a training manual on effective practices to maintain day-to-day operations.

ABAN’s knowledge transfer within the MENA region will generate benefits for ABAN as well. In addition to sharing the responsibility of due diligence activities such as screening potential angel investors and seeding ventures, ABAN will be invited to participate in the three new networks’ future matchmaking events, opening up a new pool of seed capital for ABAN’s network. The events will help provide an organized and professional platform for entrepreneurs to showcase their companies to potential angel investors.

The Arab Business Angels Network (ABAN) provides the link between entrepreneurs and angel investors, while acting as a vehicle to promote entrepreneurship and build a community of ‘Angel Investors’ across the Arab world.

 As part of Dubai International Capital’s corporate social responsibility, ABAN aims to expand its network and help establish other networks particularly in Saudi Arabia, Jordan, Egypt and Lebanon, to complement the economic development objectives of the Arab world by facilitating creative and productive entrepreneurial ventures.

Notes to Editors

About Arab Business Angels Network

The Arab Business Angels Network (ABAN) was conceived by the Young Arab Leaders and Dubai Holding during the Clinton Initiative in September 2005, with Dubai International Capital as its founder and lead Angel.

As a Business Angels Network, ABAN is the link between entrepreneurs and Angel Investors. It acts as a vehicle to promote entrepreneurship and to build a community of Angel Investors across the Arab world.Based in Dubai, ABAN aims to build a network of angel investors across the region, particularly in the UAE, Egypt, Jordan and Saudi Arabia. It will complement the economic development objectives of the Arab world by facilitating the development of creative and productive entrepreneurial ventures.

ABAN invests through two main vehicles:
• Angel Investor Members: ABAN is creating a network of angel investors who will invest, with ABAN assistance, in high potential early stage ventures
• ABAN Seed Capital Funds targeting regional start-up companies
o $10m Seed Capital Fund
o $5m fund for women-led ventures Additional information about the Arab Business Angels Network LLC is available at: www.aban.ae.

About Dubai International Capital LLC:

Established in 2004, DIC is an international investment company with offices in Dubai and London focused on both private equity and public equity. A wholly-owned subsidiary of Dubai Holding, DIC manages an international portfolio of diverse assets that provide its stakeholders with value growth, diversification, and strategic investments. Assets under management total over US$13 billion. DIC focuses on three asset classes:

 DIC Private Equity: invests mainly in secondary buyouts in developed markets where it backs strong existing management teams over a medium to long time horizon. DIC PE has acquired businesses in a range of sectors in Europe and North America including:
- UK leisure company Tussauds Group for £800m (later merged with Merlin Entertainment Group to create the world’s second largest visitor attractions; DIC retains a 20% stake)
- UK engineering company Doncasters for £700m
- US engineering company FastenTech for $492m (later merged Doncasters with Fastentech creating world leader in turbine manufacture)
- UK hotel chain Travelodge for £675m,
- German industrial packaging manufacturer Mauser for €850m
- UK healthcare company Alliance Medical for £600m
- German producer of specialty alumina Almatis for US$ 1.2 billion

 DIC Global Equities: makes structured investments in large-cap, Fortune 500 global equities, that are forecast to deliver above average returns over the long term, either directly or via DIC’s US$1.4 billion Global Strategic Equities Fund (GSEF).

 DIC Emerging Markets: invests in a range of asset classes in emerging markets.
- Equity investments: include significant stakes in the UAE-based luxury retailer Rivoli Group and Singapore-based True Group, a leading provider of wellness services in South East Asia, KEF Holdings a UAE based manufacturer of steel castings and valves, in addition to a US$200 million investment in Oger Telecom, a leading regional telecom conglomerate.
- Sector / country-specific investment funds: DIC has established several such as Ishraq, a US$150 million investment company bringing the Holiday Inn Express brand to the Middle East; the US$500 million MENA Infrastructure Fund, which invests in infrastructure projects in the Middle East and North Africa, and Jordan Dubai Capital, a US$300 million investment company that targets private equity opportunities in Jordan and most recently China Dubai Capital, a US$1 billion fund that will target opportunities in China’s growing economy.

DIC was named MENA Private Equity Firm of the Year in the 6th annual Awards for Excellence in Private Equity Europe 2008, organised by Dow Jones Private Equity News.

Information about Dubai International Capital LLC is available at: www.dubaiic.com.

For media queries, please contact:

Burgess Baria
JiWin Public Relations
Tel: +9714 3642199
Mobile : +97150 6961987
Email: burgess.baria@jiwin.ae

Or

May Moussli
Arab Business Angels Network
Tel: +9714-3621865
Fax: +9714-3620888
Email: May.Moussli@dubaiic.com