BlueFive Capital pushes ahead with defense and tech deals amid Gulf conflict
BlueFive Capital, headed by Hazem Ben-Gacem, is expanding its investment portfolio—including a new defense venture—despite ongoing war in the Gulf.
Hazem Ben-Gacem, founder and CEO of BlueFive Capital, told investors in Dubai that the firm is ready to launch a defense-sector investment that originated during a Ramadan meal with Gulf sovereign fund representatives. Managing roughly $15 billion, BlueFive closed its $3 billion Onyx Fund just before the war, earmarking capital for AI, biotech and high-performance computing in the US and Europe. Recent moves include acquiring a 30 % stake in Bugatti, supporting an Islamic digital bank and taking over Sharia-compliant asset manager Sidra Capital.
The firm has established a Beijing team that has deployed about $1.2 billion in China and plans to open a Jakarta office to tap the growing demand for Islamic financial products. Ben-Gacem also hinted at a possible deal to turn a regional stock exchange into a digital-asset platform, while BlueFive is reportedly in talks about a potential take-private of Wendy’s alongside Trian Fund Management.
Why it matters
The story shows how Gulf sovereign wealth continues to fund global tech and defense projects despite regional instability.
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