DIEZ launches AED 500 mn venture capital fund to finance tech startups

Under the patronage of Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, the Dubai Integrated Economic Zones Authority (DIEZ), today announced the launch of a venture capital (VC) fund worth AED500 million.

Launched in the presence of H.H. Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai, the fund is designed to finance technology startups and supports the economic objectives outlined in the Dubai Economic Agenda, D33 by promoting the growth of small and medium-sized enterprises (SMEs) in various emerging sectors.