Rokos comes to ADGM + UAE gifting platform eyes Saudi expansion

Another int’l name comes to ADGM

Rokos opens up in Abu Dhabi: UK-based investment firm Rokos Capital Management opened a new office in ADGM after securing financial services permission, the financial center said in a statement. The Abu Dhabi office adds to Rokos’ existing presence in New York, London, and Singapore.

A vote of confidence: “Abu Dhabi’s position as a destination of choice for global investors” was behind the move, ADGM Chief Market Development Officer Arvind Ramamurthy said. Despite the regional war, firms have still been coming to ADGM, with both Bain Capital and Hillhouse opening offices in the hub last month.

UAE’s Udora eyes Saudi expansion

UAE-based gifting startup Udora is targeting Saudi Arabia next, after securing USD 10 mn in a private funding round, according to a press release. It’s planning its Saudi entry for 3Q this year, hoping to tap into the growing e-commerce market in the Kingdom. Funds will also be used to expand its range of product offerings and better integrate AI use into its operations.