Bahrain-based Gulf Ventures Corporation (GVC) has bought an 8.3% stake in the London-based Gulf Wealth Management Limited (GWM).
The acquisition is part of GVC’s UK crowd funding campaign that will be launched by the end of this month to boost its position as a founding shareholder in GWM.
GWM is also planning to launch a digital wealth management e-commerce platform regulated by either QFC Regulatory Authority in Qatar or by Dubai Financial Services Authority at DIFC.
GWM aims to connect the HNW, affluent and mass affluent individuals in the GCC region with international institutional asset managers.
GVC managing director Nadeem Mujtaba said: "We are excited about GWM’s vision to achieve within a 5 year period a top three market position in the GCC through its effective use of digital channels, alliance partnerships with regional brokerage firms, and by partnering with international investment management firms."