Insights

Sovereign Wealth Funds On the Hunt for Venture Capital

These government programs involve investing state's money into projects that benefit the country's economy and citizens, regionally and globally. And only recently they have shown interest in supporting Venture Capital in the region, using mechanisms such as fund-of-funds; Venture Capital being the funds plowed in risky projects, usually, new and growing businesses, such as startups. Sovereign wealth funds believe that investing at an early stage could allow outsize returns.

The flow of money: from multi-million-dollar investment corporations to the Dubai Chamber of Commerce and Industry and ultimately to the startups giving them their first considerable client, sometimes by working with a third party venture capitalist who points out propitious companies. Up to 24th of April 2018, Sovereign wealth funds engaged in 15 venture capital mega-deals, $10.9 billion of worth according to funding database PitchBook. Sovereign Wealth funds are in no hurry for a quick pay out, neither do they expect outsize in all of their investments but they are however expanding their investments in tech, life sciences and healthcare.

Sovereign wealth funds' attention for startups is sure not easy to grasp, but they are indeed great risk takers and great believers.
Games played with curved sticks and a ball can be found in the histories of many cultures. In Egypt, 4000-year-old carvings feature teams with sticks and a projectile, hurling dates to before 1272 BC in Ireland, and there is a depiction from approximately 600 BC in Ancient Greece, where the game may have been called kerētízein or because it was played with a horn or horn-like stick. In Inner Mongolia, the Daur people have been playing beikou, a game similar to modern field hockey, for about 1,000 years.

Most evidence of hockey-like games during the Middle Ages is found in legislation concerning sports and games. The Galway Statute enacted in Ireland in 1527 banned certain types of ball games, including games using "hooked" (written "hockie", similar to "hooky") sticks. By the 19th century, the various forms and divisions of historic games began to differentiate and coalesce into the individual sports defined today. Organizations dedicated to the codification of rules and regulations began to form, and national and international bodies sprang up to manage domestic and international competition.