General Catalyst, a Silicon Valley venture capital firm with $30 billion in assets under management, has made its first investment in Saudi Arabia by participating in fintech startup Lean Technologies’ $67.5 million Series B round. Other investors included Bain Capital Ventures, Stanley Druckenmiller’s Duquesne Family Office, and Arbor Ventures, bringing Lean Technologies’ total funding to over $100 million. This investment signifies confidence in Saudi Arabia’s growth trajectory and Vision 2030 initiative, with fintech playing a pivotal role in diversifying the economy and creating new opportunities for the young Saudi workforce.
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Kidnappers locked up for ambushing Israeli record producer at Welsh cottage
Three kidnappers were sentenced to eight years and one month in prison for attempting to abduct Israeli record producer Itay Kashti in a botched kidnap plot motivated by political, religious, and financial reasons. The trio, Mohammad Comrie, Faiz Shah, and Elijah Ogunnubi-Sime, targeted Kashti by posing as representatives of Polydor Records and assaulting him at an isolated cottage in Wales. Despite suffering injuries, Kashti managed to escape and alert the police, leading to the arrest...
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