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DIEZ Launches $136 Million Venture Capital Fund 'Oraseya Capital' to Boost Tech Startups

Jonathan Wong

Jonathan Wong

24 November 2023

The Dubai Integrated Economic Zones Authority (DIEZ) allocates Dh500 million ($136 million) for Oraseya Capital, a fund targeting tech startups from pre-Seed to Series B stages. Endorsed by UAE Vice President Sheikh Mohammed bin Rashid Al Maktoum, the initiative aligns with Dubai's economic goals, emphasizing SME growth and global expansion.

Oraseya Capital, DIEZ's venture capital division, inaugurates the fund at the Dubai Business Forum. The fund's mission is to address corporate finance deficiencies, focusing on pivotal startup phases. DIEZ aims to fortify Dubai's status in global startup investments, recognizing their potential contribution to economic development.

Oraseya Capital's Chairman, Dr. Mohammed Al Zarooni, highlights the fund's proactive involvement in fostering innovation. The venture capital fund prioritizes strategic investments in high-growth firms, aiming to support entrepreneurs globally and solidify Dubai's reputation as a leading investment center.

The initiative offers a platform for venture capital funding applications, emphasizing DIEZ's commitment to economic expansion and a diverse investment environment in Dubai. The overarching strategy aligns with Dubai's economic blueprint, encouraging international collaboration and business expansion as discussed at the Dubai Business Forum.