Shorooq Partners is an Abu Dhabi-headquartered alternative investment firm founded in 2017 by Mahmoud Adi and Shane Shin, and is regulated by the ADGM Financial Services Regulatory Authority (FSRA registration no. 190004). It runs two distinct businesses: venture equity through its Bedaya funds, which back founders from the idea and pre-seed stage through scale-up, and a private credit practice through its Nahda funds, which the firm describes as the Middle East's first technology-focused credit strategy. The firm leads with fintech, software, frontier technology and platform businesses across MENA and Pakistan, and operates from Abu Dhabi with additional offices reported in Dubai, Riyadh, Egypt and Korea. Fund investors named on its own site include Mubadala, Saudi Venture Capital and Korea Venture Investment Corp, with Korea's IMM Investment Global a partner in its credit funds.
US$500M (approximate assets under management stated on shorooq.com/about, up from US$2M at founding) AUM68/100 Power Score™2017 FoundedAbu Dhabi, United Arab Emirates
Founded in Abu Dhabi by Mahmoud Adi and Shane Shin, starting with roughly US$2 million under management.
2021
Launched Nahda Fund I in October, reported by Wamda and The National as MENA's first venture debt fund, run in partnership with Korea's IMM Investment Global.
2022
Launched Bedaya Fund II, a US$150 million seed-stage fund, with LPs including DisruptAD (ADQ's venture platform), Dubai Future District Fund and Bupa.
2024
Closed a second private credit fund at US$100 million alongside IMM Investment Global; firm reported approximately US$500 million in assets under management across venture equity and private credit.