Venture Capital: Dubai Economic Authority Launches Oraseya Capital, A $136M VC Fund

November 6, 2023 | News, Venture Capital

Oraseya Capital will promote the growth of small and medium-sized enterprises (SMEs) across various emerging sectors.

The Dubai Integrated Economic Zones Authority (DIEZ) recently unveiled a substantial venture capital (VC) fund known as Oraseya Capital, boasting a total value of AED 500 million, or around $136 million, dedicated to nurturing startup ventures. This sector-agnostic fund has a broad investment horizon, from pre-Seed stage to Series B, reflecting its ambition to support small and medium-sized enterprises (SMEs) in emerging sectors. Notably, Oraseya Capital is deeply committed to investing in cutting-edge technology.

The fund’s launch was conducted under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, and Ruler of Dubai, along with the presence of His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai.

Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers, emphasized that DIEZ’s investment fund signifies Dubai’s growing prominence as a leading investment destination and a global financing hub for technology startups. This initiative aligns with Dubai’s strategic goals as detailed in the D33 agenda.

Oraseya Capital, DIEZ’s venture capital arm, aims to provide financing for startups during pivotal developmental phases. The initiative underscores Dubai’s dedication to maintaining a competitive edge in the global startup investment ecosystem while recognizing that startups can play a role in bolstering the national economy.

Notably, Oraseya Capital has launched an official website to facilitate financing applications, and it prioritizes direct guidance and active participation to ensure the success and growth of the companies it invests in.

DIEZ’s broader mission is to elevate Dubai’s status as a regional and global investment hub, aligning with the city’s strategic priorities related to integrated economic zones and a diverse economic landscape.

Related Story: Abu Dhabi Creates $2B Warchest For Web3, Blockchain, And Metaverse Startups

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