Two New York-based Family Offices/UHNW have committed multi-million-dollar investments to the first-ever UAE and Israel-focused technology fund.
As New York seeks untapped yields internationally, testing new markets avid the recession and inflation crisis. The Middle East market gains attention from its rich oil economy and newly recognised technology innovation. The United Arab Emirates is seen as a developed emerging opportunity for new talent and undervalued innovation, tax incentives and a new number one destination for millionaires globally.
Abu Dhabi, home to two of the top 10 sovereign wealth funds on the planet, among other multi-billion-dollar organisations, is now making tremendous strides in being a new global platform to host start-ups and compete for exclusive club deals.
Synaptech Capital was established in 2021 following the Abraham Accords as nations in the Middle East made a ground-breaking commitment to collaborate and promote business opportunities in the region. Part of Avnon Holdings, Synaptech shares a common vision; to create, shape and lead the development of new initiatives and technologies that promote economic ecosystems.
Obediah Ayton Managing Partner “Part of our goal was to diversify our LPs, creating a strong liquidity channel between New York, the United Arab Emirates and Israel. Many of our start-ups that will be developed and incubated in the United Arab Emirates will all need strategic help to expand to one of the largest consumer markets that is the USA, these new LPs will help us do just that. One of the biggest challenges for start-ups in the Middle East is expanding into developed markets like the USA or Europe, with Synaptech Capital we are already selling to 80 different countries through our mother company Avnon Group, so this can be utilized for the companies we are investing in”.
Synaptech Capital’s mission is to create a diverse ecosystem of innovative technology companies in the UAE, investing in 20 start-ups in the UAE, Israel and Gulf region. Such investments will be in industries like; Cyber Security, Fintech, Insure Tech, Public Safety and Smart City.
Synaptech is also establishing additional activities in the UAE, such as Syn-Up Innovation Centre, SynUp Coding School, all in close collaboration with local accelerators and incubators.
Synaptech Capital travel to New York later this month to continue the momentum of the newly committed LPs.