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Vemi Ventures, a new and growing Islamic and Ethical finance firm, celebrated its move into new offices in the prestigious heart of the City. The new custom-designed and trendy offices will be home to the growing team of now almost 50 employees. According to Hasan Raza,Vemi Ventures Group CEO, this move will hopefully “create an environment for innovation and collaboration to drive change in Islamic Finance in the UK and around the world”.

The new offices were inaugurated by the investors and partners that have been crucial to Vemi’s journey so far. This included institutional investors from Saudi Arabia, namely AlDowayan Holdings and the Arab Group, Malaysia, Indonesia as well as well-known partner firms like KPMG, ThoughtMachine, Deloitte, Travers Smith, Foot Anstey, A&O, Zuhlke, Neverbland, EdelmanSmithfield, Oliver Wyman, KingsRock and TTG. 

The office move, however, was not the only cause for celebration as the team were able to announce key milestone achievements in the journey towards becoming a licensed and operational UK bank. This coincided with Vemi Invest, the Vemi Ventures Group’s asset management arm, also announcing that it had become revenue positive for the first time, after winning the mandate to raise $200m for a pioneering healthcare tech fund, dedicated to revolutionising medical care. 

Speaking exclusively to City PM, Raza said, “we are incredibly proud of what we have achieved already, both in terms of our aim to attain a UK banking licence, but also across our asset management business. But there is so much more to come, these are just stepping stones on the way to achieving our broader mission.”

These impressive developments were shared by Raza and his team in the context of a reflection of the journey for the business to date, from a start up in modest offices in Mayfair to the expansion of the Ventures Group and team. 

If the progress that Vemi has made so far in such a short amount of time is anything to go by, there surely will not be long to wait before we hear further cheers of celebration emanate from Vemi new offices.