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Zamanat takes private credit onto the blockchain
DIFC-based Zamanat is sponsoring a tokenized private credit fund targeting up to USD 100 mn, with its sights set on the GCC’s estimated USD 250 bn SME financing shortfall, as per a press release. The Zamanat Fund CEIC will invest in GCC private credit, targeting businesses underserved by traditional lenders.
How it’ll work: Qualifying professional clients will be issued ZM1 Investment Tokens on ZIGChain. Dubai-based Truleum Venture Partners will manage the fund, while Apex Group will provide administration.
Ras Al Khaimah puts on some solar muscle
Zakh Renewable Energy and Engineering Manufacturing opened a solar panel and solar-integrated building (SIB) manufacturing facility in Ras Al Khaimah, targeting demand across the UAE, GCC, and international markets, as per a Rakez press release. Aside from making conventional solar modules, it will build facade systems to integrate solar generation into buildings.
Capacity is the next move: Zakh plans to expand its manufacturing footprint and increase solar module production capacity to more than 1.8 GW in the coming years. The facility currently has capacity to produce 600 MW of solar panels a year, alongside up to 500k sqm of SIP facade solutions.
AI startup Synapse raises USD 13 mn to put AI on the risk desk
Abu Dhabi-based Synapse Analytics raised USD 13 mn in a Series A round, taking its total funding to USD 17 mn, the firm said in a press release. Paris-based Partech led the round, with Jordanian investment firm Silicon Badia and Cairo-based Algebra Ventures participating. The fresh capital will support hiring, product development, and international expansion.
AI, but keep the keys: Synapse currently works with institutions across the Middle East, Africa, and Latin America. The startup builds an agentic AI decisioning platform for banks, fintechs, non-bank financial institutions and telcos. Its systems can run inside a client’s own infrastructure, allowing institutions to automate onboarding, credit, fraud, and AML decisions without moving sensitive data outside their perimeter.
Sullivan & Cromwell deepens Middle East footprint
US law firm Sullivan & Cromwell opened an office in ADGM, with returning partner Ahmed T. El Gaili (LinkedIn) tapped to lead its Middle East practice, state news agency Wam reports. The office will cover clients across the UAE, Saudi Arabia, and the wider region, with a focus on M&A, private equity, project finance, and restructuring.
Sullivan & Cromwell joins a growing roster of global firms setting up in ADGM as sovereign capital and dealmaking pull more advisers into Abu Dhabi. We’ve previously covered Skadden opening in the hub, while ADGM has since tightened licensing and governance rules for law and other professional services firms.
Portal and Forge partners with London player on flagship program
Sharjah-based AI firm Portal and Forge is partnering with London-based deeptech firm BeyondMath to target business leaders for its Klavarium program, the company said in a press release. The program is kicking off in London in December and is designed for C-suite execs and directors. Klavarium will focus on applying physics AI to business contexts and operations across sectors like aerospace, manufacturing, defense, automotive, and energy.
