The region’s first active fund of funds will support emerging technology start-ups. : Bahrain Development Bank (BDB) announces that the Al Waha Fund of Funds has successfully closed its $100 million fundraising round, making it the first active venture capital fund of funds in the region. The announcement marks an important milestone for the region’s growing start-up ecosystem. It will provide additional capital to innovative and technology-driven start-ups in Bahrain and across the Middle East through venture capital funds currently established in Bahrain, and by attracting new funds to the region.