Ahmed bin Braik, the Vice Chairman of Shuaa Capital has resigned, the asset management and investment banking firm said in a filing to the Dubai Financial Market (DFM).

Braik resigned from the board of directors, effective Friday, June 10, according to the statement. No reason was given for the resignation.

The company launched the GCC’s largest venture debt fund in March and acquired a majority stake in price comparison site souqalmal the same month.

(Writing by Imogen Lillywhite imogen.lillywhite@lseg; editing by Seban Scaria)