National Technology Enterprises Company
From Taighde
| National Technology Enterprises Company | |
|---|---|
 | |
| Type | Sovereign investment vehicle |
| Founded | 2002 |
| Headquarters | Kuwait, Kuwait |
| Total assets | $332 million |
| Website | http://www.ntec.com.kw/index.php |
The National Technology Enterprises Company is a wholly owned subsidiary of the Kuwait Investment Authority. It was established in November 2002 with KD 100($332) million and its objective is to invest in small unlisted technology companies in Kuwait and other countries.
Strategy
While the KIA is involved in the operations of the NTEC, it does not control all aspects of the fund. The KIA is made aware of all investments, it does not have veto power over possible investments.
Leadership
| Adnan Al-Sultan | Chairman and Managing Director |
| Fahad Al-Rashid | Vice Chairman |
| Abdulmajeed Alshatti | Member |
| Adnan Shihab-Eldin | Member |
| Fouzi Al-Sultan | Member |
| Jasim Al-Saadoun | Member |
| Khalid Bu-Hamra | Member |
Investments
Since its inception, the company has invested about 18.6($60)million dinar and has stakes in 28 companies. This includes 10 ventures in the Middle East and investments in venture capital funds.
| Name | Sector |
|---|---|
| StemCyte Inc | Biotechnology & Life Science |
| immatics | Biotechnology & Life Science |
| Oxford Immunotec | Biotechnology & Life Science |
| BMDSys | Biotechnology & Life Science |
| Luminous Medical | Biotechnology & Life Science |
| mtm laboratories | Biotechnology & Life Science |
| Cardiomems | Biotechnology & Life Science |
| Tawasul Telecom | IT & Telecommunications |
| Infinera | IT & Telecommunications |
| Neven Vision | IT & Telecommunications |
| Force10 Networks | IT & Telecommunications |
| Alien | IT & Telecommunications |
| Agami Systems | IT & Telecommunications |
| Streamezzo | IT & Telecommunications |
| UPEK | IT & Telecommunications |
| Luminus Devices | IT & Telecommunications |
| DFJ ELEMENT, L.P. | Venture Capital Funds |
| Conduit Ventures Limited | Venture Capital Funds |
| Conduit Ventures II | Venture Capital Funds |
| Zad Fund | Venture Capital Funds |
| Burrill & Company | Venture Capital Funds |
| ePlanet Ventures | Venture Capital Funds |
| Wellington Partners | Venture Capital Funds |
| Neuhaus Partners | Venture Capital Funds |
| CMEA Ventures | Venture Capital Funds |
| PEMEAS | Energy & Alternate Energy |
| P21 | Energy & Alternate Energy |
| Technologies | Energy & Alternate Energy |
