×
×
Advertisement

Mar 09 2008

Dubai Techno Park to sponsor $300 Million KTIC Jasper Asia Gulf Horizons Fund in Dubai

Fund represents largest private equity initiative designed to support technology development and commercialization in the GCC
09 March, 2008: DUBAI, UNITED ARAB EMIRATES - Dubai Techno Park , the Dubai Government's centerpiece technology initiative, announced today that it has agreed to base the first Asia Gulf Horizons Fund Technology Center in the Dubai Techno Park and for Dubai Techno Park to sponsor the launch of the KTIC Jasper Asia Gulf Horizons Fund in Dubai. Dubai Techno Park is managed by DP World.

The basing of the $300 million Fund in the Dubai Techno Park will result in approximately 10-15 Asian and European technology companies establishing research, development and commercial operations in Dubai over the next two years. These companies will be focused in the life sciences, information and telecommunications technology, environmental technology, energy, water and infrastructure, and industrial sectors and are considered essential to Dubai's long-term technology development plan. This will also be the largest private equity initiative to be launched in the GCC overall with the aim of driving technology development and commercialization.

Jasper Capital Limited, a financial and fund services company with operations in Dubai, Abu Dhabi and throughout the Gulf region, is the architect behind the design and establishment of the Fund. The Fund will be managed by Korea Technology Investment Corporation (KTIC), a veteran private equity management company with 22 years of experience based in Seoul, Korea, including over 100 initial public offerings of Asian technology companies.

" Dubai Techno Park believes the KTIC Jasper Asia Gulf Horizons Fund represents the most innovative private equity approach to regional technology expansion ever seen in the Gulf," said Hamad Al Hashemi, Dubai Techno Park 's Managing Director. "The combination of Jasper Capital's longstanding presence in the Gulf coupled with KTIC's history of successfully growing hundreds of venture and late-stage technology companies will be vital for the Techno Park in achieving our objectives".

"The ultimate goal of the Fund is to produce high investment returns for investors through savvy acquisitions and profitable growth in the Asian, European and Gulf markets," said Jonathan Holley, Chief Executive of Jasper Asset Management Limited. " Dubai Techno Park knows that the long-term success of its mission is best served by private investment supporting the development of ambitious, profitable technology companies and we are honored they have sponsored our Fund, which will help to set the stage for creating that result for Dubai".

The KTIC Jasper Asia Gulf Horizons Fund is currently open for investment.

-Ends-

About Dubai Techno Park
Launched by the Government of Dubai to promote the development of technology companies in Dubai and the United Arab Emirates, the Dubai Techno Park is being operated by DP World within the Jebel Ali Free Zone in Dubai. The Techno Park serves to simplify and accelerate the commercial development of technology and intellectual property to support the long-term goal of creating a sustainable technology capability in Dubai. About Jasper Capital Group

Jasper Capital Group is a leading provider of corporate finance, asset management and advisory services in the Gulf region. Jasper operates out of offices in London, Dubai, Abu Dhabi and Istanbul and has representative offices in New York, Almaty and Zurich. Jasper Capital provides its clients with traditional merchant banking services through its Jasper Consult, Jasper Asset Management and Jasper Corporate Finance subsidiaries and real estate solutions through its separate joint venture with Strutt & Parker of the United Kingdom.

Additional company information can be found at: http://www.jaspercapital.co.uk

About Korea Technology Investment Corporation
KTIC is one of Korea's first technology venture capital and private equity management companies and has launched over 26 private funds over the last 22 years. KTIC has over 200 portfolio companies and has successfully underwritten over 110 initial public offerings of its portfolio companies. KTIC is publicly listed on the KOSDAQ exchange in Korea.

KTIC's headquarters is located in Seoul, Korea, and has regional offices in Menlo Park, Tokyo, Hong Kong, and Paris.

Additional company information can be found at: http://www.ktic.co.kr


Contacts:
Jasper Capital Limited
Latifa Lahouaoui
Phone: +44 (0)20 7839 8766
Email : l.lahouaoui@jaspercapital.co.uk

KTIC
Sookja Han
Phone: +82 10 7765 0329
Phone : +33 62 047 4484
Email : vcqueen@ktic.co.kr

FD
Dubai: Manash Bhuyan
Phone: +971 50 8419631
Email: manash.bhuyan@fd.com

London: Laila Danesh
Phone: +44 (0) 207 269 7151
Email: laila.danesh@fd.com

© Press Release 2008


© Copyright Zawya. All Rights Reserved.


Be the first to comment

Send This Article To Your Friends

All fields are required.

Use commas for multiple email addresses

We'll use your email address to send the article on your behalf and it will not be collected or used for any other purposes.

X