Blue Five Reef Private Investment Fund has taken the first step to fully buy Wusoom Holding Company, which is based in the UAE.
This news comes just a few days after the fund raised around two billion dollars to invest in big companies in the region.
The deal fits with the Fund’s plan to invest in companies that are already well-developed, taking advantage of the growing and more diverse economy in the Gulf region (GCC).
The Fund aims to enhance business operations by leveraging new technology and supporting skill development.
It also plans to increase teamwork between different industries and boost growth and efficiency by using its global experience and network.
This deal shows that UAE investment funds are focused on growing strong local companies and helping them become global leaders.
Blue Five’s purchase of Hashtags marks the start of a new phase of growth and cooperation between different industries in the Gulf region.
Wusoom Holding was established in Abu Dhabi in 2013 following the merger of three holding companies.
Now, it owns shares in over 40 companies that work in 7 different areas, like farming, aviation, healthcare, technology, real estate, and hospitality.
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