UAE Privity FZ LLE Advisory Firm invests in Blockchain startups
Privity itself is an early-stage venture focused advisory firm which opened its doors in Dubai UAE in 2004. By 2016 Sleem Hasan Founder and Chief Executive Officer of Privity invested in Blockchain startup then Loyyal ( known previously as Ribbit.me) in its seed round.
In 2016, Loyyal was selected by the newly established Dubai Future Accelerator as one of the 30 first cohorts to participate in 90 day accelerator program. In that same year Loyyal signed a deal with Dubai Holding on completion. In 2018 Privity exited from Loyyal marking the second full small exit from its portfolio.
According to CEO Sleem Hasan, “Technology is the only discipline I have identified that has the ability to alter our ways of life whether we choose to embrace it or not; even religion can’t do that.” As such Privity focuses on technology startups globally and is geographically agnostic.
Privity has mobilized a tad over $40 million across it’s venture portfolio over the last 9-10 years. The firm is also a founding member of the Global Blockchain Council in UAE launched back in 2016.
Speaking to UNLOCK Mr. Hasan stated, Whilst I continue to look at blockchain, I have yet to find startups that would be sound investments and as such since Loyyal nothing has caught my attention.”