Dubai's Zamanat brings GCC private credit on-chain with $100M tokenized fund targeting underserved SMEs
Dubai-based firm Zamanat has launched the Zamanat Fund CEIC Limited, a tokenized private credit fund domiciled in the Dubai International Financial Centre (DIFC) with a target size of $100 million. The initiative aims to address a $250 billion financing gap for small and medium-sized enterprises (SMEs) across the Gulf Cooperation Council (GCC) region. Despite SMEs contributing over 50% of the UAE's GDP, they currently receive less than 10% of total bank lending, highlighting a significant market inefficiency. The fund is regulated by the Dubai Financial Services Authority (DFSA) as a closed-ended Exempt Fund and is managed by Truleum Venture Partners Limited. Interests in the fund are issued as ZM1 Investment Tokens on the ZIGChain blockchain, facilitating a digital bridge between institutional capital and credit-starved businesses. Apex Group serves as the institutional fund administrator, ensuring professional oversight for the tokenized structure. This development marks a significant step in integrating regional private credit markets into a regulated blockchain framework, potentially unlocking liquidity for underserved sectors.
- Zamanat launched a $100 million tokenized private credit fund for GCC-based SMEs.
- The fund is regulated by the DFSA and managed by Truleum Venture Partners Limited.
- ZM1 Investment Tokens are issued on ZIGChain to represent fund interests.
- GCC SMEs face a $250 billion financing gap, receiving under 10% of bank lending.
Private credit funds provide loans to companies, often SMEs, that struggle to secure traditional bank financing. By tokenizing these debt instruments, issuers can lower administrative costs, increase transparency, and allow for fractional ownership by institutional investors. These funds typically operate under strict regulatory frameworks to ensure investor protection while providing yield through interest payments on the underlying loans.