Bahrain: Bapco Energies launches BeVentures, appoints new CEO

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Bapco Energies, the integrated energy group of Bahrain, announced the launch of its latest subsidiary, BeVentures, and the appointment of Areije Al Shakar as Chief Executive Officer of BeVentures.

BeVentures, a subsidiary of Bapco Energies, will be dedicated to building and investing in transformative energy ventures.

This entity will support Bapco Energies' sustainable transition to a low-carbon economy by investing in transformative technologies. By tapping into global energy opportunities, BeVentures aims to attract and develop innovative ventures that significantly impact the energy sector and adjacent industries.

Additionally, it will create synergies with Bapco Energies' existing portfolio, fostering sustainable growth through new businesses that align strategically with Bapco Energies’ core strengths, thereby reinforcing operations and diversifying revenues.

Al Shakar, a senior leader in the regional financial industry, brings extensive professional experience of over 20 years in banking and venture capital.

She has a Kauffman Fellowship in Venture Capital and was the first Bahrain and the first female in the GCC to obtain this fellowship.

Al Shakar previously served as Head of Innovation at Bahrain Development Bank & Fund Manager & Director at Al Waha Venture Capital Fund of Funds.

Mark Thomas, Group Chief Executive Officer of Bapco Energies, confirmed that the launch of BeVentures underscores the Group’s commitment to creating new investment opportunities, promoting innovation in energy and sustainable development, and building partnerships with technology pioneers and financial leaders. This endeavor fosters national economic growth and aligns with the strategic development plans for Bahrain under the wise leadership of His Majesty King Hamad bin Isa Al Khalifa, King of the Kingdom of Bahrain and His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister.

Thomas welcomed Al Shakar to Bapco Energies, wishing her success in her new role: "Al Shakar’s appointment at BeVentures is a vital step aiming to drive substantial value across the Group. We are focused on achieving robust financial returns by nurturing our portfolio companies toward public listings or international expansion.”

He added, "BeVentures is strategically positioned to enrich our investment portfolio by tapping into the dynamic venture capital ecosystem. We are dedicated to achieving growth in the energy sector by investing in promising funds, sourcing innovative opportunities, and building strong partnerships that link innovative energy ventures with the necessary resources.”