Peter Kellner, the Founder & Managing Partner of Endeavor Global, discusses why the entrepreneurship ecosystem in the Middle East needs more proof of execution by small and medium businesses, as well as increased sophistication in venture investment.

Kellner also discusses how Richmond Global is weighing opening an office in the region, and what influences his decision as an investor to enter the region- the regulatory environment being a potential barrier.

"There's a lot of liquidity in the region, but the transaction costs are very high. Until that gets fixed, the potential of the region won't be realized," says Kellner.