While scanning the news items of the day, I read about an impressive ‘$191m fund launched to finance Dubai Wonderland project’ and while part of me is delighted, I’m also left feeling sceptical. Like many of us who have responsibilities for securing new business, finding out about a new fund with ambitious development plans sets the heart racing…
So who is behind this fund? And as the tenders begin to get released, what might bidders need to know about the controlling entity?
So, I do some rudimentary digging online and:
- The ENTO Capital website does not show board members
- or even their own people
- or their governance framework
- And if you didn’t know who ‘Abdullah Al Fouzan’ was, you might struggle to verify which Abdullah (of this hugely successful family) the article is referring to.
After thirty minutes of desk searching, I realise I’m not making any headway. Leaving me feeling:
- Why are they not being transparent?
- Are they being deliberately inaccessible?
- With nuances to Arab names, why can’t it be more clear who the article is actually referring to?
In the absence of such clarity, conspiracy can fester. It slows the cogs of commerce, creates unnecessary tension and creates further distance rather than closer opportunities.
The reality will likely be very different…based in the Dubai International Finance Centre and regulated by Dubai Financial Services Authority (DFSA), the fund will no doubt have met all the criteria. I think we all just wish greater clarity was one of those criteria!
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