DIEZ introduces $136M VC fund for fintech startups

The Dubai Integrated Economic Zones Authority (DIEZ) has launched Oraseya Capital, a $136 million VC fund, to invest in fintech startups from pre-seed to Series B, under the patronage of Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, according to Wamda.

The fund aims to finance technology startups and support Dubai's Economic Agenda, D33, by promoting the growth of SMEs in emerging sectors. It will fill corporate finance gaps during developmental stages, aligning with Dubai's commitment to startup investment and recognising the potential of these companies in contributing to the nation's growth and economic development, said a statement.

“The Dubai Business Forum creates the ideal platform to announce ambitious initiatives of this kind that support the objectives outlined in the D33 agenda and advance the global economy. We remain committed to achieving our strategic priorities by attracting international businesses and investments to Dubai and supporting the continuous growth of the digital economy,” said Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers.

Launched on the sidelines of the Dubai Business Forum, the fund is the first investment programme launched under the name of Oraseya Capital, DIEZ's venture capital arm specialising in startup investment operations.

A website for business owners has also been launched under Oraseya Capital to submit financing applications for its VC fund, targeting local and international enterprises in Dubai. The fund will provide direct guidance and active participation to ensure success and growth. With this, DIEZ aims to elevate the city's status as a regional and global investment hub, fostering a diverse economic landscape and promoting a business-friendly environment.

1059 people loved this story

---

Dubai cybersecurity startup SpiderSilk raises $9M in funding round led by Wa’ed Ventures

The Dubai Business Forum, launched on Friday under the theme 'Shifting Economic Power: Dubai and the Future of Global Trade,' aims to bring together the global business community to engage in dialogue on business growth and international cooperation.

“The emphasis is on fostering a collaborative ecosystem for innovative entrepreneurs to exchange ideas, knowledge and resources. This initiative prioritises adaptability by remaining open to new opportunities and contemporary technologies that align with the fund's objectives," said Mohammed Al Zarooni, Executive Chairman of DIEZ.

“Our goal is to empower entrepreneurs from various corners of the world to nurture and establish innovative enterprises. This endeavour is instrumental in strengthening Oraseya Capital's standing as a premier venture investment company for startups, eagerly sought after by both entrepreneurs and investors alike, all of whom aspire to reshape the landscape and future of advanced technology sectors,” he added.

The two-day event will feature plenary sessions and keynote addresses from key figures in the public sector, business leaders, industry experts, investors, and economists, discussing emerging trends transforming business and shaping global trade's future.