Shuaa Capital in Dubai launches digital poverty management arm led by former Google staff

Dubai: Dubai-based asset management company Shuaa Capital has launched a ‘Digital Wealth Management’ division targeting opportunities with a new generation of technology investors. To headline its new platform, Shuaa enlisted former Google staff to take the lead. A recent report by the consulting firm Knight Frank predicts that individuals with a high network in the Middle East will grow by 12 percent between now and 2025. (These are individuals with $ 1 million and more to invest at any given time .) Of these, 57 percent of the ultra-HNIs – those with more than $ 5 million – will be in Saudi Arabia and another 23 percent in the UAE.

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“Our intention to launch a digital prosperity platform is in line with our increasing focus on technology, which will be one of Shuaa’s top priorities going forward,” said Jassim Alseddiqi, the group’s CEO. “This includes converting our assets and wealth management capabilities and customer experience in ways we’ve never done before.” Shuaa has also spoken in the recent past about launching a dedicated technology fund. It is also an investor in the Arabic music streaming portal Anghami, which will soon appear on Nasdaq New York.