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Shorooq, a leading regional multi-strategy investment firm, and the Emirates Growth Fund (EGF), the UAE’s leading growth-equity platform with AED 1 billion in capital, have announced a strategic growth investment in Fleet Management Systems International (FMSi), a leading regional provider of fleet management technology.

The transaction marks the first partnership between Shorooq and EGF to support FMSi’s next phase of growth. Shorooq led and arranged the investment through its private equity strategy, alongside a group of co-investors.

The partnership will support FMSi’s expansion across the Gulf region and the development of a unified regional platform. Shorooq and EGF will work closely with FMSi’s founder and management team, providing governance, sector expertise and operational support as the company continues its expansion. FMSi will also actively pursue acquisition opportunities to support its growth and deploy additional capital.

Founded in 2003, FMSi has spent more than two decades developing technologies designed to improve the safety, compliance and efficiency of vehicle fleets across the region. Its FMSiTrack platform combines in-vehicle monitoring, AI-powered video and telematics technologies, fatigue and distraction detection, fuel management and journey management.

FMSi currently serves more than 1,000 enterprise customers across the energy, construction, logistics, transportation and consumer sectors, with offices in the UAE, Oman and Saudi Arabia.

The investment comes as fleet connectivity and telematics technologies increasingly evolve from operational tools into critical infrastructure for regulatory compliance. Mandatory regulations and increasingly sophisticated requirements for detecting driver fatigue and distraction are raising technical standards for fleet operators, creating stronger demand for established providers with local expertise, certifications and in-country support.

FMSi’s integrated technology platform, long-standing customer relationships and track record across sectors such as oil and gas — where safety standards are among the most stringent globally — provide a strong foundation for further regional expansion and market consolidation.

For Shorooq, the transaction represents an important step in the development of its private equity strategy, the latest addition to its investment platform, which also includes venture capital, credit and real assets. Shorooq initiated, structured and led the investment, deploying capital from its managed funds alongside a group of co-investors it brought into the transaction.

The firm’s approach focuses on supporting companies throughout their lifecycle, while its private equity strategy targets established, cash-generating regional businesses with the market position and scale needed to consolidate their respective sectors.

Shorooq Partner Machee Del said the firm’s private equity strategy represents a natural extension of its long-term approach to supporting founders and established market leaders.

Shorooq Investment Director Muzaffar Alwan said the firm sees fleet connectivity and telematics as a high-growth sector across the GCC, driven by supportive regulatory trends and significant consolidation opportunities. He added that FMSi represents an attractive platform investment due to its strong fundamentals, regional footprint, diversified product offering and track record of delivering value to customers while maintaining compliance with regional licensing and certification requirements.

Matthew Singh, Chief Investment Officer at EGF, said FMSi represents the type of company EGF was established to support — a UAE-founded business in its expansion phase serving critical sectors across the region. He described the partnership with Shorooq as a strategic collaboration between sovereign and private capital aimed at helping FMSi scale advanced technologies that support the UAE’s industrial ambitions.

FMSi CEO Wasim Murad said the company had built its business over more than two decades by earning the trust of customers that depend on reliable technology, including energy operators, fleet companies and public-sector organizations. He added that the partnership with Shorooq and EGF would support FMSi’s organic growth and further expansion through strategic mergers and acquisitions.

FMSi plans to pursue additional growth opportunities as it expands its regional presence and product capabilities, with the strategic ambition of becoming a leading regional provider of best-in-class technologies for fleet safety, compliance and efficiency.