Key Takeaways
- • Dubai Integrated Economic Zones Authority (DIEZ) launched a US$136 million venture capital fund, the first investment programme under its VC arm, Oraseya Capital, according to a Business Wire release.
- • The fund targets technology startups from the pre-seed stage through Series B, supporting the Dubai Economic Agenda (D33) and SME growth in emerging sectors.
- • DIEZ takes a direct-guidance, active-participation approach to portfolio companies rather than passive asset investment, per the announcement.
- • Oraseya Capital accepts financing applications through its website from local companies and international enterprises seeking to establish operations in Dubai.
Summary
The Dubai Integrated Economic Zones Authority (DIEZ) has announced the launch of a venture capital fund worth US$136 million, according to a Business Wire release. The fund was launched under the patronage of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and in the presence of Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai. It was unveiled on the sidelines of the Dubai Business Forum, organised by Dubai Chambers.
The fund is the first investment programme launched under Oraseya Capital, the venture capital arm of DIEZ that specialises in venture investments in startups. It is designed to finance technology startups and supports the objectives of the Dubai Economic Agenda, D33, by promoting SME growth in various emerging sectors. Oraseya will invest from the pre-seed stage through to Series B, and one stated objective is to address gaps in corporate finance during these developmental stages.
Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DIEZ, described the launch as a strategic move aligned with the directives of Sheikh Mohammed bin Rashid to support the growth of Dubai's digital economy. Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers, said the initiative reflects Dubai's growing position as a leading destination for investment and a global hub for financing technology startups. Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ, said the fund's primary focus is on startups with substantial growth potential and that Oraseya aims to foster a collaborative ecosystem for innovative entrepreneurs.
According to the announcement, the fund differs from passive investing by adopting a direct-guidance approach and active participation to help portfolio companies succeed and grow. Business owners can submit financing applications through the Oraseya Capital website, targeting both local companies and international enterprises seeking to establish operations in Dubai.
The fund is the first investment programme launched under Oraseya Capital, the venture capital arm of DIEZ that specialises in venture investments in startups. It is designed to finance technology startups and supports the objectives of the Dubai Economic Agenda, D33, by promoting SME growth in various emerging sectors. Oraseya will invest from the pre-seed stage through to Series B, and one stated objective is to address gaps in corporate finance during these developmental stages.
Sheikh Ahmed bin Saeed Al Maktoum, Chairman of DIEZ, described the launch as a strategic move aligned with the directives of Sheikh Mohammed bin Rashid to support the growth of Dubai's digital economy. Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers, said the initiative reflects Dubai's growing position as a leading destination for investment and a global hub for financing technology startups. Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ, said the fund's primary focus is on startups with substantial growth potential and that Oraseya aims to foster a collaborative ecosystem for innovative entrepreneurs.
According to the announcement, the fund differs from passive investing by adopting a direct-guidance approach and active participation to help portfolio companies succeed and grow. Business owners can submit financing applications through the Oraseya Capital website, targeting both local companies and international enterprises seeking to establish operations in Dubai.
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