Unlocking Opportunities: Shorooq & Hanwha Life Boost Alternative Investments in MENA & Asia

Exciting Developments Ahead:

• Powerful Partnership: Hanwha Life has officially teamed up with Shorooq, enhancing its mission to make waves across the MENA region.
• Global Expertise at Play: Shorooq taps into its vast network, boasting support from 10 sovereign wealth funds, including those from the UAE, Saudi Arabia, and Korea.
• Focused Investment Vision: This collaboration is set to amplify their investment strategy in thriving sectors like fintech, platforms, software, and deep tech.
• Innovation Unleashed: Together, they aim to spark regional innovation, empower startups, and elevate the alternative investment landscape throughout MENA and Asia.
• Pivotal Moment: The partnership was announced at the prestigious Abu Dhabi Finance Week, highlighting the significance of this alliance.

Abu Dhabi, UAE – In a groundbreaking move for the financial landscape, Shorooq, a trailblazing investment firm in the MENA region, has forged a remarkable alliance with Hanwha Life, one of South Korea’s leading life insurance giants. For 78 years, Hanwha Life has been a pillar in both the insurance sector and the broader economic growth of South Korea, and now they are setting their sights on the U.S. market. This partnership isn’t just business; it’s a strategic leap towards connecting investment hubs between Asia and the Middle East, bolstered by esteemed global investors and sovereign wealth funds, including South Korea’s Korea Venture Investment Corporation (KVIC).

The weight of Hanwha Life’s esteemed investment history, including stakes in global titans like Blackstone and BlackRock, underscores their strategic choice to align with Shorooq. This partnership will empower Shorooq to broaden its array of financial services while zeroing in on high-impact investments in cutting-edge fields like fintech, software, and deep tech. Shorooq has built a strong reputation for orchestrating impactful collaborations, such as a $160 million startup fund linking Saudi Arabia and South Korea, all with the backing of 10 sovereign wealth funds from the region.

Speaking on this exciting development, Minsik Shin, Chief Investment Officer of Hanwha Life, stated, “Collaborating with Shorooq marks a significant milestone in our journey to expand globally into high-growth markets like the Middle East. We view this region as a burgeoning hub for financial innovation and alternative investments. Shorooq’s impressive track record in financial services showcases their unique ability to create and scale impactful solutions. Together, we’ll not only build on Shorooq’s existing successes but also unlock new opportunities for entrepreneurs, solidifying the region’s critical role in the global financial ecosystem.”

Mahmoud Adi, Founding Partner at Shorooq, shared his enthusiasm: “Partnering with Hanwha Life stands as a testament to Shorooq’s resilience as a multi-dimensional investment powerhouse. With their support, we are poised to enhance our influence across MENA and Asia, driving our vision of transforming the investment landscape by championing innovative companies that will define the future of key industries in the region.”

Shane Shin, another Founding Partner at Shorooq, added, “Shorooq has always aimed to bridge the MENA and Asia markets, creating pathways to unlock growth opportunities. Our collaboration with Hanwha Life strengthens our capability to innovate and support emerging businesses in crucial sectors like AI and fintech. Together, we’re primed to ignite a new era of growth and innovation.”

As the startup and investment ecosystems in MENA continue to evolve at lightning speed, Shorooq’s commitment to fostering cross-border synergies becomes increasingly vital. With Hanwha Life’s robust support and the backing of 10 influential sovereign wealth funds, Shorooq is strategically positioned to elevate the region’s alternative investment landscape, aligning perfectly with regulatory shifts and the aspirations for sustainable growth.

About Shorooq

Founded in 2017, Shorooq stands as a multi-dimensional investment firm dedicated to fueling the most innovative technology companies across MENA and beyond. With deep expertise in fintech, software, platforms, and deep tech, Shorooq has proudly supported category leaders like Pure Harvest Smart Farms, Nymcard, Tamara, Sarwa, Lean Technologies, TruKKer, Mozn, and Lendo.

At Shorooq, we are driven by core values that prioritize partnerships with founders while delivering attractive returns for investors. Our presence spans the UAE, Saudi Arabia, Egypt, and Korea, ensuring we are deeply rooted in the regions we serve.

Shorooq represents a network of affiliated companies operating under this brand name, with Shorooq Partners Ltd being a member, regulated by the ADGM Financial Services Regulatory Authority (FSRA FSP: 190004 as a category 3C Fund Manager).