The deal marks the first ever venture capital investment by the Emirati firm.
Dubai-based education and healthcare investment firm, Amanat Holdings, has announced that it has invested $5 million in the US-based edutech, BEGiN - the company behind innovative early learning programme, HOMER.
As part of the deal, Amanat will become the regional strategic partner of an enterprise that specialises in the education of children between the ages of two and eight. As Amanat's first ever venture capital investment, the deal fits into the firm’s ongoing support of the digitisation of education and healthcare.
“Our investment in BEGiN represents a major milestone for Amanat given the influential impact of disruptive technologies on the sectors we invest in,” Mohamad Hamade, CEO of Amanat, said. “We believe this is an ideal time to invest in education and healthcare technology, to evolve our current portfolio as well as position Amanat as a strategic regional partner amongst global players in this space. We are looking at opportunities that are changing the provision of conventional academia and healthcare and we believe there is potential for further acquisitions of this nature down the line.”
Over the years, Amanat has thrown its support behind a variety of educational vehicles, education platform, Taaleem; Abu Dhabi University Holding Company, in which it holds a 35% stake; and Middlesex University Dubai, the first overseas campus from the London-based university.
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