Follow The Money: Shorooq's Bilal Baloch

For Follow The Money, the cover story for Inc. Arabia's January/February 2025 issue, we tapped industry leaders for insights to guide your moves in the MENA entrepreneurial landscape in 2025. In this piece, we go one-on-one with Bilal Baloch, Partner at Shorooq, on the opportunities he and his firm are keeping an eye on this year. 

Bilal Baloch, a partner at UAE-based Shorooq, a multi-dimensional firm known for backing early-stage ventures that tackle key regional challenges, shares that in recent years, the enterprise has focused on startups that “marry local problem sets with ambitious global markets.” Such an approach has seen Shorooq invest in sectors like fintech, logistics, foodtech, and agritech in the MENA – all of which are industries where technology and innovation can not only address critical challenges in the region, but also drive meaningful change. 

“2024 gave us a glimpse of the region’s hunger for innovation, especially in verticals that deliver tangible, day-to-day impact,” Baloch says, as he highlights transformative trends that he believes are set to accelerate in 2025, namely, digital infrastructure and artificial intelligence (AI), and climatetech and sustainability. “We’ve seen an uptick in startups leveraging AI to create efficiencies in everything from logistics to customer service,” he shares. “This addresses the region’s pressing need for smarter, more streamlined operations, ultimately driving cost-savings, revenue growth, and better user experiences.” 

Similarly, with regards to the rise of climatetech solutions, Baloch believes that the focus on challenges like food security, water scarcity, and energy transition has given rise to more entrepreneurs creating solutions that respond directly to the region’s long-term imperative to ensure a resilient and sustainable future. “I anticipate these trends will not just continue but accelerate in 2025,” he adds. “As governments and corporations double down on digital innovation, the startups that can prove measurable impact – whether in productivity gains or carbon footprints reduced – will attract serious attention and capital.” 

Baloch also notes that technologies like AI, blockchain, and Web3 are rapidly transforming both industries and investment strategies alike. “AI is no longer just a buzzword – it’s permeating every layer of business,” he declares. “In industries like logistics, AI is streamlining route optimization. In healthcare, it’s accelerating diagnosis. And in finance, it’s automating underwriting processes. That level of efficiency transformsentire business models, moving them from mere operational improvements to wholly new offerings and revenue streams.”  

Of course, this shift in the business landscape also translates into new opportunities – and risks – for those in the investment arena. “As an investor, this means we need to remain openminded and agile,” Baloch agrees. “It’s not about betting on every new hype cycle; it’s about identifying which innovations have genuine market fit and a robust moat, then backing founders who can execute on that vision. We’re very excited about the founders and businesses we have backed in these areas, and what 2025 will bring for them as well as new investments we make.” 

Speaking specifically on Shorooq, Baloch is clear that while the company’s fundamental investment strategy shall remain the same, it will continue to keep an eye on emerging tech trends that can scale. “Going into 2025, our high-conviction, foundercentric philosophy will not shift,” he says. “The fundamentals remain the same: back resilient entrepreneurs solving real-world problems with scalable tech. But the scope of what ‘scalable tech’ means will keep expanding, especially given the rapid evolution of AI, blockchain, and other emerging tools – areas where we have made early and big bets. As such, we’ll likely deploy more capital into solutions with traction in new frontiers.” 

And while Baloch believes that innovation is flourishing in the region, he notes that some industries remain underexplored. “We’re starting to see more risk capital heading into a variety of industries, and that is exciting for the entire ecosystem,” he says, while adding that he’d like to see more attention going toward sectors like healthtech, where trends like telemedicine, AI diagnostics, and personalized care have the potential to disrupt traditional models and address the region’s unique healthcare challenges.

Baloch also points to edtech and workforce development as areas ripe for the taking particularly in vernacular languages and dialects, and highlights their potential to equip the next generation with future-ready skills. Finally, he underscores the importance of sustainable food production, water desalination, and renewable energy solutions tailored to the GCC’s environment, calling for more resources to address these critical areas. “Investors who get ahead of these sectors stand to make both a significant impact and a solid return,” Baloch adds. 

As for investors looking to expand into the GCC, Baloch recommends building strong local ties and understanding regional nuances. “The GCC’s ecosystem is about relationships, trust, and collaboration, whether with local governments, corporate players, or community leaders,” he says, urging investors to focus on building genuine partnerships on the ground. “Our markets are dynamic but also diverse: what works in the UAE might need to be localized for Saudi Arabia, Egypt, or Pakistan. Do your homework on regulatory environments and cultural preferences.” Baloch also notes that patience is crucial, as the region rewards those who focus on building durable, impactful businesses rather than chasing quick returns. This is especially true in the GCC, he says, where massive resources are being committed to infrastructure and innovation. 

Finally, Baloch advises investors to “seek out the real problem-solvers.” “There’s plenty of capital in the region, but the companies that stand out are the ones tackling big, pressing problems – everything from financial inclusion to carbon footprints – using technology as the key enabler,” Baloch declares. “In sum, the GCC in 2025 is poised for significant growth driven by digital transformation, an embrace of innovation, and a maturing entrepreneurial ecosystem. As someone who’s had the privilege of seeing these shifts up close at Shorooq, I can assure you: this is a region where transformative ideas truly matter – and where they can scale in ways that benefit all.” 

Pictured on image is Bilal Baloch, partner at Shorooq. Image courtesy Shorooq.

This article first appeared in the January/February issue of Inc. Arabia magazine. To read the full issue online, click here.