DIEZ Launches AED 500 Million Venture Capital Fund for Tech Startups

The Dubai Integrated Economic Zones Authority (DIEZ) has introduced a venture capital fund worth AED 500 million, with the patronage of Sheikh Mohammed bin Rashid Al Maktoum. The fund's creation aligns with the Dubai Economic Agenda, D33, and focuses on supporting small and medium-sized enterprises (SMEs) in emerging sectors, with an emphasis on technology startups. The fund is the first initiative by Oraseya Capital, DIEZ's venture capital arm dedicated to startup investments. It will provide support from the pre-seed stage to Series B investments, promoting Dubai's digital economy.

Chairman of DIEZ, Sheikh Ahmed bin Saeed Al Maktoum, noted that the VC fund is a strategic move to boost Dubai's digital economy and support SME growth. DIEZ aims to contribute to comprehensive and sustainable development, ensuring Dubai's continued economic progress.

The fund's objectives include addressing corporate finance gaps and supporting startups. It is part of Dubai's effort to compete globally in the startup investment field and advance the economy's growth. DIEZ established Oraseya Capital to facilitate startups' global expansion and promote investments in cutting-edge technology, making Dubai a growing hub for innovative enterprises.

Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ, leads the Board of Directors of Oraseya Capital, which includes experts in financial funds, corporate establishment, business development, and investment consulting, with over 15 years of experience in startups. Oraseya Capital aims to nurture and establish innovative enterprises and reshape the future of advanced technology sectors, promoting investment and entrepreneurship in Dubai.