Bahrain - Hope Ventures, a pioneer in Bahrain’s startup ecosystem, made history yesterday as it became the second company to list on the Bahrain Investment Market (BIM).

This landmark event marks a significant milestone for the kingdom’s financial sector and offers a new avenue for investors to support innovative Bahraini entrepreneurs.

The investment arm of Hope Fund, Hope Ventures will trade under the symbol ‘HOPE’, the Bahrain Bourse (BHB) announced adding that the BIM is an equity market designed for fast-growing companies seeking growth capital.

A bell-ringing ceremony was held to mark the official listing of Hope Ventures shares in the presence of Industry and Commerce Minister and Minister-in-charge of Bahrain Bourse Abdulla bin Adel Fakhro, Supreme Council for Youth and Sports general secretary and Hope Fund chairman Aymen AlMoayed, Youth Affairs Minister Rawan Tawfiqi, Hope Ventures chairman Shaikh Hamad bin Mohamed Al Khalifa, Bahrain Bourse chairman Abdulkarim Bucheery, Bahrain Bourse chief executive Shaikh Khalifa bin Ebrahim Al Khalifa, board members and executive management of BHB and Hope Ventures.

Shaikh Hamad expressed his enthusiasm for the listing, stating: “Today’s milestone is a testament to our commitment to fostering a vibrant and dynamic startup ecosystem in Bahrain. By providing a transparent and accessible platform for investment, we aim to empower entrepreneurs and drive economic growth.”

On his part, Shaikh Khalifa commented: “We would like to welcome the listing of Hope Ventures on the BIM. We believe that BIM is the ideal platform for fast-growing companies offering them a cost-effective financing option to accelerate and achieve their goals.”

“We look forward to more listings on the BIM which comes in line with bolstering the goals and objectives set towards the Financial Services Sector Development Strategy 2022-2026 in terms of attracting listings on BIM,” Shaikh Khalifa added.

“Today marks a significant milestone for Hope Ventures as we proudly announce our official listing on the Bahrain Investment Market. This listing offers our existing shareholders the opportunity to monetise their investments and potentially exit their positions,” said Hope Ventures general manager Fajer AlPachachi.

“Hope Ventures will continue to actively invest in promising Bahraini entrepreneurs and drive the success of our portfolio companies both domestically and abroad. We remain dedicated to nurturing innovation and supporting the growth of our portfolio companies in Bahrain and beyond.”

Hope Ventures currently has 30 private shareholders with Hope Fund as the majority shareholder.

So far it has invested a total of $3.2 million across 19 companies and is evaluating various investment opportunities, Ms AlPachachi added.

“Hope Ventures supports young entrepreneurs and their projects. The success of these projects contributes to the national economy and benefits Bahrain. This listing encourages investors to purchase shares and support young Bahraini entrepreneurs,” said Khalid Al Amin, a leading Bahraini businessman, who is also a shareholder in Hope Ventures.

Operationally launched in March 2017, BIM has seen a series of regulatory changes recently aimed at supporting the growth and development of the market, enhance market attractiveness, and simplify and increase the efficiency of the admission process.

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