Dubai-based EIGHTClouds, a boutique alternative investment firm, has secured $20 million in fresh capital, as it plans to expand its business in the region, with a focus on the UAE, Saudi Arabia and other key markets.

The funds were raised in just 11 months, ahead of the 24-month target, due to strong interest from investors.

The proceeds are now being deployed across a series of strategic acquisitions, with several investments already completed and others in progress, the firm said.

The company did not identify the investors in its latest fundraising.

EIGHTClouds invests in various sectors across the region, and is now set to embark on a new series of sector-focused investment initiatives to further tap into the consumer sector, with initial focus on scalable F&B concepts, hospitality models and experience-led brands.

(Writing by Cleofe Maceda; editing by Seban Scaria)

Seban.scaria@lseg.com