Private equity group Gaw Capital Partners has expanded its private equity platform in the Gulf Cooperation Council ( GCC ) with the launch of the Gaw Tamkeen Nexus Fund, a growth equity vehicle focused on high-growth technology-enabled companies across the region.

The fund is a continuation of Gaw Partners’ Growth Equity Fund series, with the GCC as an added geography, due to the attractiveness of the region for Asian companies seeking expansion.

The offering, which has already reached a first close of approximately US$150 million and is targeting over US$400 million in commitments, will focus on investments in key strategic sectors, the private equity group notes, including financial technology, artificial intelligence ( AI ), digital infrastructure, climate technologies and other innovation-driven industries shaping the next generation of regional champions.

As part of the expansion, the group is also establishing regional presence in Abu Dhabi and Riyadh, strengthening its ability to partner with entrepreneurs, investors and institutions across the GCC.

“Gaw Capital believes strongly in the long-term economic fundamentals of the GCC and the innovation ecosystem that is emerging across the region,” says Christina Gaw, the group’s managing principal, global head of capital markets, and co-chair of alternative investments. “We view the GCC as one of the most dynamic growth markets globally and remain committed to supporting the next generation of regional technology and growth companies.

“By combining Gaw’s deep Asian roots with regional partnerships in the GCC, we aim to facilitate meaningful foreign direct investment into the Gulf, accelerate technology localization and build enduring commercial ecosystems that benefit both regions.”

Herbin Koh, Gaw Capital’s head of private equity and deputy head of infrastructure, adds: “There is a strong case for Growth Equity Funds in the region given the momentum in recent years on early-stage investing.

“The Saudi tech ecosystem, driven by Vision 2030, is experiencing a significant surge, transforming from an oil-dependent economy to a technology powerhouse, with clear direction towards becoming a global innovation leader.

“The UAE is also an attractive market with its aim for end-to-end national AI capability and global leadership in advanced AI technologies. This macro tailwind bodes well for strong collaboration for an Asia-GCC innovation corridor.”