Saturday 20 November 2021
Dubai has seeded the new Dubai Future District Fund with an initial purse of AED 1 billion as part of ongoing efforts to support startups in the field of technology and encourage them to list on the Dubai Financial Market stock exchange.
An initiative of the Dubai Securities and Exchange Higher Committee, the fund will focus on implementing the goal to establish 1,000 tech companies in the country within five years and increase startup investments from AED 1.5 billion to AED 4 billion.
The Dubai Future District Fund facilitates entrepreneurship to realize Dubai’s aspirations for the new economy and enhance the city's status as a preferred destination for global talent.
As an enabler of Dubai Future District’s other initiatives, the fund seeks to fill a funding gap in the Middle East and North Africa (MENA) venture capital market by investing in technology startups in the early stages of growth. It aims to invest in local and regional funds, as well as attract leading international VC funds to establish a presence in Dubai.
The aim is to build an innovation-driven startup ecosystem to enhance the global competitiveness of Dubai’s future economy. The fund will invest in a range of initiatives, including Dubai Future Accelerators, DIFC FinTech Hive, and Venture Builder Studios.