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Investments

5

Portfolio Exits

3

About Eric Cantor

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Latest Eric Cantor News

Moelis plans Saudi hires as it seeks to open Riyadh office

Nov 28, 2021

Moelis plans Saudi hires as it seeks to open Riyadh office The Saudi economy, the biggest in the Middle East, is growing at its fastest pace in almost a decade November 28, 2021 Moelis will soon hire staff in Saudi Arabia as it sees the kingdom attracting more foreign investors and benefiting from an “energy supercycle.” The boutique financial adviser, founded by Wall Street veteran Ken Moelis, wants to open an office in Riyadh, the Saudi capital, and do more deals as the world’s biggest oil exporter privatises some companies and the stock market sees a burst of initial public offerings. “We are waiting for a final stamp on our licence,” vice chairman Eric Cantor said in an interview. “It’s forthcoming and part of that is hiring Saudis.” He declined to say how many people the bank wants to employ. The Saudi economy, the biggest in the Middle East, is growing at its fastest pace in almost a decade thanks in large part to crude prices surging this year to around $80 a barrel. They could go even higher, Cantor said, because many countries are cutting back on fossil-fuel investments to meet climate goals. “We are set for a supercycle in oil and gas,” said Cantor, who was the majority leader for the Republicans in the House of Representatives until 2014, after which he joined Moelis. Crown Prince Mohammed bin Salman is trying to diversify the economy from oil and develop industries from artificial intelligence, to tourism and electric vehicles. That’s led to more opportunities for foreign banks in the non-energy sector, even if the fees they get for deals are low by global standards. “This region is one of the most dynamic places economically in the world right now because it’s really changing and it’s opening up,” Cantor said in Abu Dhabi, the capital of the neighbouring United Arab Emirates. “There’s increasing interest from US companies wanting to come to the region and Saudi Arabia’s the largest market.” Moelis has done business in the Gulf for years and its founder was dubbed “Ken of Arabia” after winning a mandate to work on Saudi Aramco’s record IPO in 2019. It was also hired by the state energy company to help it sell billions of dollars of assets, including pipelines. Moelis, like many other international firms, has its main office for the Middle East in Dubai. The move to open one in Riyadh comes as Saudi Arabia pushes firms to locate their regional headquarters there. Tags

Eric Cantor Investments

5 Investments

Eric Cantor has made 5 investments. Their latest investment was in SafeGraph as part of their Series A on April 4, 2017.

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Eric Cantor Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

4/7/2017

Series A

SafeGraph

$16M

Yes

3

3/1/2014

Seed VC - III

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$99M

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0

5/1/2013

Seed VC - II

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$99M

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0

1/5/2012

Seed VC

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$99M

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10

11/9/2011

Seed VC

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$99M

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10

Date

4/7/2017

3/1/2014

5/1/2013

1/5/2012

11/9/2011

Round

Series A

Seed VC - III

Seed VC - II

Seed VC

Seed VC

Company

SafeGraph

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Amount

$16M

$99M

$99M

$99M

$99M

New?

Yes

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Co-Investors

Sources

3

0

0

10

10

Eric Cantor Portfolio Exits

3 Portfolio Exits

Eric Cantor has 3 portfolio exits. Their latest portfolio exit was Fitocracy on February 26, 2016.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

2/26/2016

Acquired

Acquirer

2

8/19/2015

Acquired

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10

3/13/2014

Acquired

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10

Date

2/26/2016

8/19/2015

3/13/2014

Exit

Acquired

Acquired

Acquired

Companies

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Valuation

Acquirer

Acquirer

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Sources

2

10

10

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