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Dubai Launches $136 Million Venture Capital Fund for Tech Startups

Jonathan Wong

Jonathan Wong

13 November 2023

The Dubai Integrated Economic Zones Authority (DIEZ) establishes a $136 million venture capital fund to support tech startups from pre-seed to series B, with a focus on international expansion and strong growth prospects. DIEZ Chairman Sheikh Ahmed bin Saeed Al Maktoum aims to enhance Dubai's reputation as a hub for global innovation.

The fund, initiated by DIEZ's venture capital arm, Oraseya Capital, is the first of its kind. Oraseya has previously invested in companies like Writer, Lawhive, and LetsWork. Additionally, Oraseya operates the Sandbox accelerator, supporting pre-seed to seed-stage tech entrepreneurs.

The Dubai government agency DIEZ offers businesses access to its global network, business solutions, and multimedia ecosystem. The fund is part of Dubai's strategy to promote innovation and attract tech companies to contribute to the city's economic growth.