Photo credit: Oraseya Capital
The Dubai Integrated Economic Zones Authority (DIEZ) has announced the launch of a VC fund worth US$136 million that will invest in startups from the pre-seed to series B stages.
The fund will target tech startups that have high growth potential and global expansion goals.
Sheikh Ahmed bin Saeed Al Maktoum, chairman of DIEZ, said that the fund hopes to boost Dubai’s status as a hub for global innovative firms.
The new fund is the first investment program launched under Oraseya Capital, the venture capital arm of DIEZ. Oraseya has already made several investments before the fund’s launch, with companies like generative AI platform Writer, solicitor marketplace Lawhive, and workspace booking firm LetsWork in its portfolio.
Oraseya also operates the Sandbox accelerator, a five-month program for pre-seed to seed-stage tech entrepreneurs. The program has held three cohorts with a total of over 38 participating startups.
DIEZ is a government administration offering companies access to its multimedia ecosystem, global network, and business solutions.
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Editing by Lorenzo Kyle Subido
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