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Dubai launches $136M capital fund for startup financing

Today Dubai announced a $163 million venture capital fund for financing startups, according to a press release.

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November 10, 2023

Today Dubai announced a $163 million venture capital fund for financing startups, according to a press release.

The announcement came from the Dubai Integrated Economic Zones Authority (DIEZ), under the patronage of Sheikh Mohammed bin Rashid al Maktoum, VP and prime minister of the UAE and ruler of Dubai.

Mission goals include financing startups and supporting economic objectives in the D33 Dubai Economic Agenda.

"This qualitative strategic initiative supports the efforts of DIEZ to enhance its contribution to Dubai's economy and the growth of the SME sector, which is a vital segment of the economy and serves the overarching goal of achieving comprehensive and sustainable development," the prime minister said in the release. "This will ensure the continued sustainability and progress of Dubai's economy in the decades to come."