A Dh500 million venture capital fund had been set up by the Dubai Integrated Economic Zones Authority (DIEZ), with the primary aim of helping out fintech ventures through their initial years.

This is the first investment programme launched under Oraseya Capital, the VC arm of DIEZ. The startup investment focus extends from pre-seed stage, and all the way to the Series B investment stage.

“The establishment of this VC fund serves as a major boost for accomplished companies looking to build a global presence,” said Sheikh Ahmed bin Saeed Al Maktoum, Chairman of Dubai Integrated Economic Zones Authority.

The initiative targets companies within Dubai, as well as 'international enterprises seeking to establish their operations in Dubai'.

With the chosen startups, the VC fund will adopt a direct guidance approach and active participation to help companies ensure their growth 'instead of investing in assets only'.

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