Ascentium, a Singapore-headquartered global business services platform with over 2,500 professionals across 23 markets, has acquired Clara, the largest licensed corporate service provider (CSP) in ADGM.
The deal also gives Ascentium a presence in the Dubai International Financial Centre through Clara’s existing operations there. Financial terms were not disclosed.
Founded in 2018 by Patrick Rogers, Lee McMahon, Ahmed Arif, Arthur Guest, and Hannah McKinlay, Clara was spun out of Support Legal, a boutique startup law firm the co-founders had established to serve early-stage companies in the region.
The company graduated from Techstars Dubai in 2019 and raised a $2 million seed round from Techstars, 500 Startups (now 500 Global), Wamda Capital, Shorooq Partners, VentureSouq, Delta Partners, and Dubai Angel Investors.
Subsequent rounds brought in The LegalTech Fund, DIFC’s FinTech Fund, Plug and Play, and GINCO Investments, taking total funding to approximately $5.6 million, including a Series A in 2023.
Clara’s trajectory shifted in 2020 when it acquired Foundra Corporate Services, an established ADGM incorporation provider founded in 2018. That deal, combined with a Cayman Islands partnership, moved Clara from a legaltech software platform into a licensed, regulated corporate service provider.
Kathryn Burke, Foundra’s Managing Director, joined Clara and now leads the business. A second acquisition followed in late 2023 when Clara acquired BOTH Corporate Services Limited, another ADGM-based provider.
Today Clara manages approximately 2,000 companies across ADGM and DIFC, serving startups, SMEs, law firms, venture capitalists, accelerators, and government-related entities. Its platform covers digital company formation, governance, compliance, cap table management, and data rooms.
The acquisition is part of Ascentium’s buy-and-build strategy targeting regulated business services in key jurisdictions. Recent deals include ZICO Corporate Services in Southeast Asia and Links International for HR and payroll services across Asia Pacific. Ascentium serves more than 60,000 client entities across 45 cities.
