VC React Podcast (E45): Anthropic's hypocrisy, xAI In Saudi, Qlub $30M Round, 500 Global $300M Fund

VC React Podcast:

Every week, we bring you insights and reactions from top VCs, LPs, and Angel Investors, reacting to the latest news on MENA startups, VCs, and investment rounds. Stay tuned for: expert analysis, independent opinions, and maybe some heated conversations!

Hosts:

• Ahmad Takatkah, VCpreneur.
  Sign up to VCpreneur Newsletter on https://www.vcpreneur.com/

• Jamie Lane, FWDstart.
  Sign up to FWDstart Newsletter on https://www.fwdstart.me/

Available on:

• Youtube: VC React Podcast

• Spotify: VC React Podcast

• Apple: VC React Podcast

Guests:

1. Abe Seksek, An Angel Investor & Host of the ABEZ Show
- LinkedIn Profile: https://www.linkedin.com/in/abeseksek/
- VC Firm Website: https://www.thelaunchventures.com/

2. Amer Nasereddin, VC at Fikr Ventures, Board Member & Co-founder @ Yaseer
- LinkedIn Profile: https://www.linkedin.com/in/amernasereddin/
- VC Firm Website: https://www.fikrventures.com/

3. Chada El Islam Benmahcene, CEO @ ENTROGX Ventures, & Co-founder @ Women Collective
- LinkedIn Profile: https://www.linkedin.com/in/benchada/
- VC Firm Website: https://www.linkedin.com/company/entrogx

In Today's Episode:

News of the week brought to you by FWDstart:

• “Not thrilled about it”: Anthropic rethinks Gulf capital stance to fund AI growth
  Summary: In a leaked internal memo, Anthropic CEO Dario Amodei confirms that the company is now exploring investment from the UAE and Qatar – a reversal of its 2024 stance on Gulf capital, when it declined funding from Saudi Arabia over “national‑security concerns.” In a Slack message obtained by WIRED, Amodei wrote: “Unfortunately, I think the idea that ‘no bad person should ever benefit from our success’ is a pretty difficult principle to run a business on.” He added: “There is a truly giant amount of capital in the Middle East, easily $100B or more. If we want to stay on the frontier, we gain a very large benefit from having access to this capital. Without it, it is substantially harder to stay on the frontier.”

• Elon Musk’s xAI eyes Saudi Arabia for next wave of data centre expansion
  Summary: Elon Musk’s artificial intelligence startup, xAI, is in early talks to lease data centre capacity in Saudi Arabia, as it hunts for energy-rich regions with capital depth and geopolitical alignment to scale its compute infrastructure, according to Bloomberg. The company is evaluating two distinct partners in the Kingdom. One is HUMAIN, a Saudi-backed AI firm offering xAI access to several gigawatts of future data centre capacity — potentially among the largest globally. The other is a second, unnamed partner currently developing a 200-megawatt facility that could come online much sooner.

• Qlub raises $30M to take UAE-born dining payments platform global
  Summary: Qlub allows customers to instantly scan a QR code to view the menu, order, split the bill, and pay without waiting for a server or using a card machine. Founded in 2021 by Eyad Alkassar and Mahmoud Fouz, Qlub has quickly become a go-to digital layer for the hospitality sector. Its new funding round, co-led by long-time backers Shorooq Partners and Cherry Ventures, also saw participation from telecom giant e&, sovereign investor Mubadala, and Legend Capital.

• 500 Global launches $300M Sustainable Growth initiative from new Abu Dhabi base
  Summary: 500 Global is doubling down on emerging markets with the launch of a new Sustainable Growth practice based in Abu Dhabi and plans to deploy up to $300 million into startups solving critical challenges across Africa, Brazil, India, and the Gulf over the next two years. Leading the new practice is Dr. Alaa Murabit, a former executive at the Gates Foundation and one of the architects behind the United Nations Sustainable Development Goals.

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