The Middle East needs to improve its governance standards, urged Sharif El-Badawi, CEO of Dubai Future Fund (DF2), a government-backed fund of funds and venture investor. If the region wants the rest of the world to view it as a destination for sophisticated and thoughtful capital, a lot of work still needs to be done.
His call for robust governance standards comes at an interesting time for the Middle East. Global limited partners (LPs) have reduced their tech allocations to a trickle, while the Fed is signaling a halt to rate hikes. Concerns over a worldwide recession also looms large.