The Arab Business Angels Network (ABAN) aims to address the shortage of funding for emerging business in the Arabian Peninsula. The network was conceived by the Young Arab Leaders during the Clinton Global Initiative in September 2005, with Dubai International Capital (DIC), the private equity investment arm of Dubai Holding, its founder and lead institutional investor.
DIC made its first foray into angel investing last year through its US$2.6 million Pan Arab Business Plan.
It invested in an ostrich farm in Jordan and paper producer in Egypt, both of which have successfully expanded following the capital injection.
ABAN will bring together individual and corporate investors who want to access early stage opportunities, with membership by invitation only.
The target value for each investment is between $100,000 and $1 million.
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