Abu Dhabi-based alternative investment company Shorooq has announced a $9 million investment in two innovative ventures that participated in the One Billion Pitches competition, part of the 1 Billion Followers Summit held in Dubai. The three-day global content-focused event, which concluded on Monday, also contributed $4 million for these co-investment deals.
Strategic Investments
Shorooq will allocate $6 million to Halo AI, a cutting-edge platform enabling brands to build autonomous marketing campaigns in collaboration with influencers, reducing manual workload by approximately 85%. The remaining $3 million will go to Eugenius, a cross-cultural storytelling platform led by Korean media expert Eugena Jung, which focuses on creating Korean-style dramas using Middle Eastern content.
These ventures were selected from the top 25 applications shortlisted by an expert jury based on factors such as feasibility, market potential, creativity, scalability, social and economic impact, and leadership capabilities.
Commitment to Innovation
The 1 Billion Followers Summit and Shorooq had previously pledged a joint funding pool of Dh50 million for the competition. Shorooq contributed Dh30 million in funding and direct investments, while the summit allocated Dh20 million to support start-ups and entrepreneurs with content-focused ideas.
“Investing in the emerging content creator economy aligns with who we are,” said Mahmoud Adi, Founder and CEO of Shorooq. “You will always find us where there’s a new economy, new opportunities, and new value creation happening.”
The Growing Creator Economy
The creator economy, valued at $250 billion in 2024, is projected to double within the next three to four years, according to Goldman Sachs. Shorooq aims to capitalize on this growth by focusing on micro-influencers — individuals with social media followings between 1,000 and 100,000. These influencers, known for higher engagement rates than their macro counterparts, are pivotal in driving purchasing decisions.
“A macro-influencer or large influencer, they’re good at driving a brand and brand awareness, but to help you in the decision of buying this product versus that product, actually micro-influencers usually have the highest engagement,” he said.
Building a Diverse Portfolio
Shorooq’s portfolio, valued at $5 billion in gross equity, spans the Middle East, North Africa, and beyond. The company has made 85 investments across 11 countries, generating over $500 million in revenue. Key investments include Pure Harvest (agriculture), Tamara (buy-now-pay-later platform), TruKKer (tech-driven logistics), Mozn (AI-powered financial solutions), NymCard (digital payments), and Sarwa (wealth management and trading).
Backed by prominent regional and global investors, including Abu Dhabi’s ADQ, Lunate, Mubadala Investment Company, and Saudi Arabia’s Public Investment Fund, Shorooq continues to bridge markets through strategic partnerships. Notably, its collaboration with South Korea’s Hanwha Life aims to strengthen investment corridors between Asia and the Middle East.
Driving Inclusivity and Efficiency
Shorooq’s investments are guided by the principle of leveraging inclusivity to create value. Adi emphasized that ventures like Eugenius and Halo AI are poised to drive efficiency and economic impact by addressing niche markets and fostering inclusivity.
“Where you’ll find a really good investment at is when we kind of drive inclusivity, and inclusivity drives efficiency, and efficiency drives value creation – and value creation is very big profit,” he said.
Shorooq’ forward-thinking approach solidifies its position as a key player in the fast-growing creator economy, paving the way for innovative content-focused ventures to thrive.
Source: The National
