UAE News Today : Politics

DIEZ launches AED 500 million venture capital fund to boost tech startups

Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, the Dubai Integrated Economic Zones Authority (DIEZ) announced the launch of a venture capital (VC) fund worth AED 500 million. Launched in the presence of His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai, the fund is designed to finance technology startups and supports the economic objectives outlined in the Dubai Economic Agenda, D33 promoting the growth of small and medium-sized enterprises (SMEs) in various emerging sectors.

The new fund was launched outside the Dubai Business Forumwhich is being organized by Dubai Chambers under the sponsorship of His Highness Sheikh Mohammed bin Rashid. The fund is the first investment program launched under the name capital of oraseya, the venture capital arm of DIEZ specialized in venture investment operations in startups. You will play a pivotal role in supporting startups, starting from the pre-seed stage and extending to the Series B investment stage.

His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of TENsaid the release of Capital Oraseya and the creation of an AED 500 million venture capital fund for technology startups represents a strategic move that aligns with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum to support the growth of the digital economy sector of Dubai.

His height saying:

“This qualitative strategic initiative supports DIEZ’s efforts to enhance its contribution to Dubai’s economy and the growth of the SME sector, which is a vital segment of the economy and serves the overall objective of achieving comprehensive and sustainable development. This will ensure the continued sustainability and progress of Dubai’s economy for decades to come.

“The creation of this venture capital fund is an important boost for successful companies seeking to build a global presence. It will play a pivotal role in strengthening Dubai’s status as a nurturing ground for the world’s most innovative, advanced and creative companies. We are confident in the capabilities of Oraseya Capital’s team of experts, who are well versed in supporting startups in emerging sectors and cutting-edge technology. “Our goal is to see these startups join the esteemed ranks of ‘unicorn’ companies, beginning their journey right here in the emirate, a key player in shaping the global economy.”

One of the fund’s core objectives is to address existing gaps in corporate finance, particularly during these crucial stages of development. The initiative reflects Dubai’s commitment to keeping pace with the world’s major economies in the field of seed investment, recognizing the potential that these companies have to contribute to the growth, advancement and strengthening of the national economy.

TEN established Capital Oraseya to reinforce the creation of capacities and competencies. The initiative is aimed at facilitating the global expansion aspirations of startups and making investments in cutting-edge technology. These efforts together serve to strengthen Dubai’s status as a rapidly growing hub and an attractive destination for businesses and businesses alike.

His Excellency Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ, chairs the board of directors of this company. Its members include specialists in financial funds, corporate establishment, business development and investment consulting, each of whom brings more than 15 years of experience in the startup field, specifically in the United Arab Emirates and Dubai. Leveraging the extensive experience of DIEZ and its economic zones, spanning almost a quarter of a century, brings greater depth and perspective to this initiative.

His Excellency Abdul Aziz Abdulla Al Ghurair, President of Dubai Chamberssaying:

“The launch of DIEZ’s investment fund reflects Dubai’s growing position as a leading investment destination and global hub for funding technology startups. The Dubai Business Forum creates the ideal platform to announce such ambitious initiatives that support the objectives outlined in the D33 agenda and advance the global economy.”

Al-Ghurair aggregate:

“We remain committed to achieving our strategic priorities by attracting international business and investment to Dubai and supporting the continued growth of the digital economy. “We greatly value DIEZ’s initiative, which represents an advanced step towards improving Dubai’s global competitiveness in attracting and financing technology startups.”

His Excellency Dr. Mohammed Al Zarooni, Executive Chairman of DIEZsaying:

“Oraseya Capital’s core values ​​include effective engagement, supporting modern technology and cultivating creative ideas. The emphasis is on fostering a collaborative ecosystem for innovative entrepreneurs to exchange ideas, knowledge and resources. This initiative prioritizes adaptability by remaining open to new opportunities and contemporary technologies that align with the fund’s objectives. Integrity is at the forefront, with a commitment to maintaining the highest standards of transparency, all in the service of supporting and financing technology companies at the emirate level.

“The main objective of the venture capital fund lies in the strategic investment of new companies that show substantial growth potential. Our goal is to train entrepreneurs from various corners of the world to promote and establish innovative companies. “This effort is critical to strengthening Oraseya Capital’s position as a leading venture investment firm for startups, highly sought after by entrepreneurs and investors alike, who aspire to reshape the landscape and future of advanced technology sectors.” .

Capital Oraseya has launched its official website, which provides a platform for business owners to submit funding applications to the venture capital fund. This initiative is aimed at local companies within the city, as well as international companies looking to establish their operations in Dubai.

The venture capital fund excels at supporting companies in its investment portfolio by taking a hands-on, hands-on approach to help companies ensure their success and growth rather than investing solely. in assets.

TEN, with its overall objective of elevating Dubai’s position as a regional and global investment hub across all sectors, is dedicated to realizing Dubai’s strategic priorities related to integrated economic zones. This overall strategy seeks to improve economic growth and formulate a comprehensive economic plan for the city. This plan envisions a diverse economic landscape, encouraging a wealth of investment opportunities and promoting a business-friendly environment.

He Dubai Business Forum was launched today at Madinat Jumeirah, Dubai, under the theme ‘The shift in economic power: Dubai and the future of global trade’. The Forum brings together the global business community to engage in a rich dialogue on business growth and international cooperation.

The two-day event will host high-level plenary sessions and keynote addresses, creating exciting opportunities for participants to hear from influential public sector figures, business leaders, industry experts, investors and economists as they explore emerging trends transforming markets. businesses and shape the future of global trade.

News source: Dubai Press Office

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