Latest news with #Unbound
India Gazette
30-06-2025
- Business
- India Gazette
At least 9,800 millionaires are expected to relocate to UAE in 2025
New Delhi [India], June 30 (ANI): The United Arab Emirates continues to solidify its reputation as a premier destination for the world's ultra-wealthy, driven by regulatory reforms, favourable tax policies, and long-term residency options such as the Golden Visa, as reported by the Gulf to the latest Henley & Partners Private Wealth Migration Report, at least 9,800 millionaires are projected to move to the UAE in 2025 alone, underscoring the country's appeal to high-net-worth individuals seeking stability and strategic shipping tycoon John Fredriksen is among the several high-profile billionaires from around the globe who made the move to the UAE. Fredriksen, long based in the UK, has moved a significant part of his business operations from London to the UAE. Once ranked the UK's ninth-richest individual, Fredriksen cited the British government's decision to scrap the long-standing 'non-dom' tax regime as a major catalyst for his relocation. Known for building one of the world's largest oil tanker fleets, his move is seen as symbolic of a broader trend of wealth migration from Britain to the Michael Edward Platt, British billionaire and hedge fund veteran, Michael Platt, co-founder of BlueCrest Capital Management, has also shifted his base to the UAE. The firm, once Europe's third-largest hedge fund, has managed assets exceeding USD 35 billion at its peak. In June 2025, Platt moved his primary residence and family office to Dubai, continuing a UAE expansion that began in 2022 following regulatory approval for BlueCrest's operations in the Bharti Mittal, son of telecom magnate Sunil Bharti Mittal and Managing Director of Bharti Global Ltd, has also made a high-profile shift to Abu Dhabi. As the founder of Unbound, a global technology investment firm, Mittal represents the younger generation of India's Bharti family. In April 2025, he registered a new branch of Unbound in Abu Dhabi amidst tightening tax regimes in the UK. The Bharti family remains the largest individual shareholder in BT Group Pavel Durov, the Telegram founder, has called Dubai home since 2017. After leaving Russia in 2014 due to political pressure, Durov and his brother established the encrypted messaging platform's global headquarters in the UAE. Now a UAE citizen, Durov was ranked the world's 120th richest person in 2024 and was previously named the richest expatriate in the UAE by Forbes. In 2023, Arabian Business hailed him as Dubai's most powerful Sawiris, Egypt's richest man, Nassef Sawiris, has also chosen the UAE as his financial base. In late 2023, his family office, NNS Group, relocated to the Abu Dhabi Global Market (ADGM). Sawiris controls a 30 per cent stake in OCI NV, a leading global fertiliser producer, and owns significant shares in Adidas and LafargeHolcim. His move reinforces Abu Dhabi's growing status as a global hub for elite wealth to the report of Gulf news, a combination of political stability, robust financial infrastructure, and investor-friendly climate continues to draw the world's most influential entrepreneurs and financiers to UAE. About 9,800 millionaires are expected to move to the UAE in 2025, from hedge fund moguls to tech innovators. Dubai and Abu Dhabi are rapidly becoming the new centres of global wealth and power. (ANI)
NDTV
30-06-2025
- Business
- NDTV
UAE To Welcome 9,800 Millionaires In 2025: Report
New Delhi: The United Arab Emirates continues to solidify its reputation as a premier destination for the world's ultra-wealthy, driven by regulatory reforms, favourable tax policies, and long-term residency options such as the Golden Visa, as reported by the Gulf News. According to the latest Henley & Partners Private Wealth Migration Report, at least 9,800 millionaires are projected to move to the UAE in 2025 alone, underscoring the country's appeal to high-net-worth individuals seeking stability and strategic advantage. Norwegian-born shipping tycoon John Fredriksen is among the several high-profile billionaires from around the globe who made the move to the UAE. Fredriksen, long based in the UK, has moved a significant part of his business operations from London to the UAE. Once ranked the UK's ninth-richest individual, Fredriksen cited the British government's decision to scrap the long-standing "non-dom" tax regime as a major catalyst for his relocation. Known for building one of the world's largest oil tanker fleets, his move is seen as symbolic of a broader trend of wealth migration from Britain to the Gulf. Additionally, Michael Edward Platt, British billionaire and hedge fund veteran, Michael Platt, co-founder of BlueCrest Capital Management, has also shifted his base to the UAE. The firm, once Europe's third-largest hedge fund, has managed assets exceeding USD 35 billion at its peak. In June 2025, Platt moved his primary residence and family office to Dubai, continuing a UAE expansion that began in 2022 following regulatory approval for BlueCrest's operations in the region. Shravin Bharti Mittal, son of telecom magnate Sunil Bharti Mittal and Managing Director of Bharti Global Ltd, has also made a high-profile shift to Abu Dhabi. As the founder of Unbound, a global technology investment firm, Mittal represents the younger generation of India's Bharti family. In April 2025, he registered a new branch of Unbound in Abu Dhabi amidst tightening tax regimes in the UK. The Bharti family remains the largest individual shareholder in BT Group Plc. Furthermore, Pavel Durov, the Telegram founder, has called Dubai home since 2017. After leaving Russia in 2014 due to political pressure, Durov and his brother established the encrypted messaging platform's global headquarters in the UAE. Now a UAE citizen, Durov was ranked the world's 120th richest person in 2024 and was previously named the richest expatriate in the UAE by Forbes. In 2023, Arabian Business hailed him as Dubai's most powerful entrepreneur. Nassef Sawiris, Egypt's richest man, Nassef Sawiris, has also chosen the UAE as his financial base. In late 2023, his family office, NNS Group, relocated to the Abu Dhabi Global Market (ADGM). Sawiris controls a 30 per cent stake in OCI NV, a leading global fertiliser producer, and owns significant shares in Adidas and LafargeHolcim. His move reinforces Abu Dhabi's growing status as a global hub for elite wealth management. According to the report of Gulf news, a combination of political stability, robust financial infrastructure, and investor-friendly climate continues to draw the world's most influential entrepreneurs and financiers to UAE. About 9,800 millionaires are expected to move to the UAE in 2025, from hedge fund moguls to tech innovators. Dubai and Abu Dhabi are rapidly becoming the new centres of global wealth and power.
Entrepreneur
10-06-2025
- Business
- Entrepreneur
Unbound Raises USD 4 Million to Power Enterprise AI Security and Governance
Unbound plans to invest over USD 1 million to expand its team in India and further build its AI security platform You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Bengaluru-based enterprise AI security startup Unbound has raised USD 4 million in seed funding to accelerate its efforts in model orchestration, data protection, AI integration, and open-source LLM adoption. The round was led by Race Capital, with the startup aiming to address the growing need for secure, scalable AI governance solutions across enterprises. Founded in 2023 by Rajaram Srinivasan (ex-Palo Alto Networks, Imperva) and Vignesh Subbiah (ex-Adobe, Tophatter, Shogun), Unbound is tackling a critical gap in how organisations control the use of generative AI tools. As employees increasingly rely on AI copilots for coding, content creation, and analytics often without IT oversight, Unbound's platform ensures enterprise security without interrupting productivity. The platform integrates directly with popular tools like Cursor, Roo, and internal copilots, offering real-time monitoring, redaction, and prompt rerouting. Instead of blocking AI use, Unbound intelligently redirects sensitive queries to secure, self-hosted, open-source LLMs, while allowing low-risk prompts to pass through. This approach enables up to 70 per cent savings on AI infrastructure costs and significantly reduces the risk of data leaks. In one use case, a tech company safely rolled out Gemini 2.5 to over 100 engineers in under a week using Unbound. The platform has already prevented more than 7,000 instances of potential data leaks, including exposure of credentials and personal information. Edith Yeung, General Partner at Race Capital, said, "Unbound represents a new class of AI infrastructure, one that blends visibility, safety, and cost-efficiency into a single platform. Their infrastructure-first approach is exactly what enterprises need as they scale AI use responsibly." Unbound plans to invest over USD 1 million to expand its team in India and further build its AI security platform. With increasing demand for secure AI deployment, particularly in sectors like healthcare and technology, the company sees India as a key growth market. The startup will also deepen its ecosystem integrations and support enterprises in orchestrating internal models based on custom policies and compliance needs. Its solution allows companies to retain control over how and where AI is used without sacrificing speed or safety.
Yahoo
06-06-2025
- Business
- Yahoo
Syfe secures $80m in Series C funding for Asia-Pacific expansion
Syfe, a digital wealth platform based in Singapore, has announced the completion of its Series C funding round, raising $80m. This includes a new all-equity C2 tranche of $53m at a significantly increased valuation, adding to the earlier C1 raise of $27m in August 2024. Syfe stated that the funding indicates its growing investor confidence in its mission to redefine wealth management across Asia-Pacific. The latest round brings Syfe's total funding to date to $132m and follows its strategic acquisition of Selfwealth, an online investment platform in Australia. This acquisition significantly increased Syfe's presence and user base in the Australian market. The Series C round was led by two UK family offices, with returning investors Unbound and Valar also participating. Syfe founder and CEO Dhruv Arora said: 'This fund raise comes at an exciting time as we grow our presence across the region and expand our offerings. 'In Singapore, Hong Kong, and Australia, nearly half of all adults are in the 'mass affluent' segment, and this segment is growing fast. We're in a great position to serve them with personalised, accessible, and high-quality wealth management at scale.' Syfe has grown significantly over the last 18 months, with total assets now exceeding $10bn. In Hong Kong alone, the business has doubled in size since early 2025. Syfe is prioritising automation and AI-assisted tools to enhance efficiency for clients and internal operations. The company is also making strategic hires to strengthen key capabilities. Recent notable additions include Sanjeev Malik, former managing director at BlackRock, and Dane Ricketts, Syfe's new VP of marketing, who brings extensive experience from Procter & Gamble and Grab. 'Syfe's core business has nearly doubled in the last year, and now expands further with the addition of Selfwealth to the Syfe family,' added Arora. 'This capital will be used to scale our reach and strengthen our leadership position across Singapore, Hong Kong, and Australia. We'll continue investing in innovation, enhancing the customer experience, and expanding our product suite to meet the evolving needs of investors.' "Syfe secures $80m in Series C funding for Asia-Pacific expansion" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Economic Times
05-06-2025
- Business
- Economic Times
Wealthtech platform Syfe closes $80 million funding round, plans to expand tech team in India
ETtech Dhruv Arora, founder and CEO, Syfe Singapore-based wealth management platform Syfe has raised $53 million in a fresh funding round, led by two UK-based family offices. London-based investment firm Unbound and Peter Thiel's Valar Ventures, both existing investors, also participated in the round. In August 2024, the company had raised $27 million as part of the same round, and this extension takes the total funds raised in the round to $80 million. Founded by Dhruv Arora, an IIT Bombay alumnus and previously a senior executive at Grofers (now Blinkit), the startup is a savings and investment platform that provides diversified proprietary portfolios, cash management solutions and brokerage services to individuals. While the platform operates in Singapore, Hong Kong and Australia, its technology centre is located in Gurugram. In a statement, the company said that it intends to use these funds to hire more talent for its tech centre in Gurugram. Over the last year, Syfe's headcount has grown by nearly 15% in India. 'Our team, based out of Gurugram Tech Headquarters in India, plays a critical role in driving this expansion and building a truly global offering,' Arora, said in a press release. 'This fundraise comes at an exciting time as we grow our presence across the region and expand our offerings,' Arora added. 'In our markets of Singapore, Hong Kong and Australia, nearly half of all adults are in the 'mass affluent' segment, meaning those who have between a few hundred to a few million dollars in investable assets, and this segment is growing fast.'Last month, Syfe acquired Australia-based online investment platform Selfwealth. The company is also prioritising automation and artificial intelligence adoption for internal operations as well as on the client side.
