Zest Wire | 8-January-2026

2025 was a busy year at Zest - See what's new and how you can use Zest for your private-market workflows.

January 08, 2026

This week’s agenda

📰 What’s new at Zest?

📈 Sovereign wealth funds fuel M&A activity

💰 Capital activity across MENA private markets

📖 What we’re reading

💡 What’s new on social?

Let’s dive in!

What’s new at Zest?

Kicking off 2026 with real momentum.

We wanted to share a few key milestones and metrics from 2025, a testament to what we have been building, and a signal of what is coming next.

  1. Doubled deal volume and closed 2025 with:

    • $230M+ executed digitally

    • 185+ transactions completed

    • 60% client repeat rate

    • 1,650+ participants onboarded

  2. Secured our ADGM FSRA license and launched regulated escrow and distribution solutions to complement the existing suite of tools

  3. Launched major platform upgrades that further reduced friction across the deal lifecycle:

    • Launched Zest Tarth.AI, a collection of 9 AI agents that cuts onboarding time significantly, replacing manual effort with AI to deliver a smoother, faster customer experience and stronger KYC accuracy.

    • Expanded localization with a full Arabic UI and easy access to completed forms and transaction documents

    • Introduced in-platform investor communications so leads can send vehicle updates with real-time notifications

    • Revamped deal lead dashboard, allowing clients to have clear visibility on their deals and participants, cutting back-and-forth and providing more clarity.

We are constantly enhancing our platform, and we will keep sharing these improvements so you can see (and feel) how Zest gets faster, clearer, and more modular over time.

We are excited to support you and keep sharing ongoing enhancements that help you execute with confidence.

Sovereign wealth funds fuel M&A activity

The global AI arms race is being fueled by a $184 billion sovereign war chest.

In 2025, state-backed funds underwrote a record $184.4 billion in global M&A - more than doubling last year’s volume.

The jump is a direct result of sovereign giants in Saudi Arabia, Kuwait, Abu Dhabi, and others pivoting from passive LPs to aggressive anchors of global dealmaking. From the $55 billion Electronic Arts takeover to Qatar’s $500 billion pledge to the US tech sector, the mandate is clear: own the AI value chain or get left behind.

Market moves: Capital activity across MENA

  • 🇸🇦 DSShield raises $54 million from Merak Capital to expand security operations capacity, scale managed services, and build new proprietary technology.

  • 🇸🇦 Rewaa has raised $45 million Series B round from Wa’ed Ventures, Idrisi Ventures, and Unity Ventures to accelerate their AI investments and expand capabilities for retailers in Saudi Arabia.

  • 🇦🇪 Lucid Capital has closed a $2.5 million Seed round led by Tharawat Holding to expand its trading strategies, infrastructure, and AI research.

  • 🇸🇦 Newera.ai raises a $2.1 million pre-seed round led by Embark to support local expansion, R&D, and product development.

Private markets and family office insights

5 largest first-time PE funds of 2025 show specialists are winning | PitchBook

While fundraising remains tough for first-timers, a distinct strategy and strong pedigree can still get the job done.

GPs' resolution for 2026: Stop talking about AI and start using it | PitchBook

For fund managers, delaying the adoption of this technology will be more costly than its implementation.

Capital flows and strategy

Why The Race For Talent And Tech Could Accelerate Startup M&A In 2026 | Crunchbase

The dollars involved in startup M&A deals appear to be up significantly this year, though deal counts are not. Still, numerous M&A market watchers we spoke with expect 2026 to be robust across startup industries, boosted by a strong outlook for the IPO market as well.

Back with a bang: Buyout bosses predict exit bonanza in 2026 | Private Equity News

As cash-strapped investors clamour to get their money back, private equity firms are hoping that this will be the year they can finally clear their exit backlog

Are We Repeating The Mistakes Of The Last Bubble? | Crunchbase

Many tech startups that raised money at inflated valuations during the 2021 bubble are now struggling as market multiples contract and cash runs out, writes strategic adviser Itay Sagie. In this guest column he warns that the AI sector is showing similar hype-driven behavior and urges founders to focus on realistic valuations, strong unit economics and a clear path to profitability.

Sovereign wealth funds fueled this year's largest deals | PitchBook

Ranking the top five largest sovereign-backed deals announced or completed in 2025.

Higher valuations to support improved M&A activity | PitchBook

An increasing number of borrowers are being provided both private credit financing and public debt options.

Saudi venture capital market posts record-breaking 254 deals, $1.66 billion investment value in 2025 | Economy Middle East

Saudi Arabia’s venture capital ecosystem achieved two historic leaps in 2025, in terms of total investment value and number of transactions.

Inside CoinMENA’s exit: The $240m deal that redefined MENA crypto’s growth model | Wamda

CoinMENA’s sale to Paribu crystallises a quiet shift in how value is being priced in MENA’s digital asset market.

Regulation and governance watch

Beneficial ownership rules get an overhaul | EnterpriseAM

Individuals holding at least 25% of a company’s ownership - directly or indirectly - will now be designated as the beneficial owner.

What’s new on social?

Unlocking Long-Duration Capital in MENA Region Secondaries

We explore how secondaries have become a foundational tool for unlocking long-duration capital, incentivizing top talent, and institutionalizing venture investing in the MENA region.

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