The Fund will take advantage of the network of start-ups and scale-ups available through Gobi Partners, a leading call in Asia, and Ethis with its deep relationships in the halal economy and will have an effect on the creation of an investment space.
KUALA LUMPUR: As a moral investment and social finance platform operator, Ethis Group, after launching EthisX as part of its global expansion plan, continues to pioneer taking part with pan-Asian venture capital firm Gobi Partners, to design and set up a $20 Shariah-compliant seed fund.
The fund, which is expected to close for the first time until the end of this year, stands out as Ethis Group’s first step into the venture capital fund, as well as the first fund fully compliant with Gobi Partners’ Shariah.
This collaboration combines the knowledge of Gobi Partners, which ultimately manages $1. 5 billion in assets in North Asia, South Asia and ASEAN, with the organization in developing fintech investment platforms. and crowdfunding from Ethis Group in Indonesia, Malaysia and, more recently, in Oman. The Fund will take advantage of the network of startups and extensions available through Gobi Partners, a leading convener in Asia, and Ethis with its deep connections in the halal economy and will have an effect on creating investment space. The association aims to capture the expansion of startups in the halal economy where startups adhere to Sharia and therefore their products are designed to serve a giant Muslim community. The geographic presence of Gobi and Ethis in markets with giant Muslim populations bodes well for the mutual fund to invest in those startups. Additionally, the fund’s focus on the broader moral investment timeline resonates well with the post-pandemic focus on environmental, social, governance and sustainable investments that are also growing beyond the Muslim community. “Creating this pool will allow us to channel investment into tech startups that are driving the upgrade and making an impact. Venture capital is at the peak of demand and is suitable for making a moral investment,” said Mohamed Shehzad Bin Mohamed Islam, CEO of Ethis Investment Platform LLC (EIP).
Founded in 2002, Gobi Partners, now headquartered in Kuala Lumpur and Hong Kong, supports marketers from inception to expansion and focuses on emerging and underserved markets. it includes the first unicorn, Malaysia’s automotive e-commerce marketplace Carsome, and British and Hong Kong biotech startup Prenetics.
In 2016, Gobi introduced its TaqwaTech vertical that focuses on investments in Islamic corporations and the global Muslim economy. The notable top of its taqwaTech investments is Dubai-based Umrahme, which is now the global market leader in pilgrimage bookings for Umrah with over 3. 5 million pilgrims since its inception in 2019.
“We are excited to partner with Ethis Group to create this new Sharia-compliant fund, which is very much in line with our current TaqwaTech purpose. Muslim consumers constitute a $2. 2 trillion market opportunity and the Muslim network is expected to yield for more than 31% of the world’s population by 2060, yet the Muslim network’s virtual wishes are largely unfulfilled or neglected. Thanks to this union with Ethis and the creation of this committed fund, we will now be able to finance, feed and even more Muslim entrepreneurs,” said Gobi co-founder Thomas Tsao.
Once launched, the pool will invest in Shariah-compliant startups around the world with an initial geographic location in the MENA region as well as ASEAN regions. Investment opportunities supported through Oman Vision 2040, which has focused on diversifying its economy, boosting the fintech industry and authorities’ digitization efforts.
About Ethis Group
Ethis Group operates regulatory-approved crowdfunding platforms in Indonesia, Malaysia and Oman.
Our platforms serve individuals, high net worth individuals, businesses, and government entities. Ethis built its initial balance sheet from 2016 to 2020 on social housing in Indonesia, where our global network of investors from more than 50 countries funded progression projects to build approximately 10,000 homes. . Most recently, we introduced EthisX, the cross-border platform for the moral personal capital market.
Since the beginning of COVID-19, we have introduced popular new investment products, adding high-yield, short-term source chain financing projects in Indonesia and fair investments in “technology of the future” startups in Malaysia. Our GlobalSadaqah social finance marketplace plays a key role in connecting donors and Islamic economic actors to better distribute social finance and zakat to NGOs and social enterprises. EthisX aims to address the unavailability of morally chosen and Shariah-compliant funding and election funding in emerging and evolved non-Muslim countries. countries with sufficiently giant Muslim populations.
We exist to #circulerlebien. Our deep preference for creating a more moral form of finance to elevate humanity has attracted vital financial and network leaders to our vision and mission.
To learn more about Ethis Group, visit https://ethis. co and https://ethisx. co
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