Abraaj Capital will invest in up to 15 small businesses across the Middle East this year as the private-equity firm seeks to become a global player among small to medium enterprises.
The Dubai company's newly acquired stake in The Entertainer, a publisher of discount coupons, is the 14th investment made by its US$650 million (Dh2.38 billion) strategic fund, Riyada Enterprise Development, which was set up in 2010 to invest specifically in small businesses across the region.
"We invest in companies with proven business models that are profitable today but where the real growth is ahead of them," said Tom Speechley, the chief executive of Riyada.
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