Bahrain’s GFH closes Global Tech Opportunities II offering

Bahrain’s GFH closes Global Tech Opportunities II offering

Bahrain-based Gulf Financial Group (GFH) has completed its Global Tech Opportunities II offering, which includes pre-IPO investments in a portfolio of firms that focus on next-generation technologies. The latest transaction follows the first round of GFH's investments in the United States in the second quarter of 2020 that included minority shares in companies that have had successful IPOs on the New York Stock Exchange. The latest portfolio provides diversified exposure to tech verticals and earns the company minority stakes in several other firms that include Automation anywhere, Tanium, StockX, RApyd, Scopely, Robinhood, Kraken, Lyra Health and Klaviyo, among others. The companies operate in some of the most disruptive tech sub-sectors benefiting from secular trends in digital adoption such as cloud and enterprise software, cybersecurity, fintech, mental health, e-commerce and mobile gaming. "The investment is expected to generate attractive returns for GFH and its investors," the company said in a statement posted on the Dubai Financial Market (DFM) on Sunday. According to Hammad Younas, chief investment officer of GFH, the deal marks GFH's fourth major technology investment offering and the second in the United States in less than a year. "It is an area where we continue to focus and strategically