3 days ago
Dubai's Innovation Engine Secures $1.65bn, Fuels 190 Startups
Arabian Post Staff -Dubai
Dubai Future District Fund has reported securing over $1.65 billion in capital commitments and supporting more than 190 startups, marking a significant milestone in its mission to bolster the emirate's innovation ecosystem.
Anchored by the Dubai International Financial Centre and the Dubai Future Foundation , DFDF unveiled these achievements at its Annual General Meeting, reflecting its alignment with Dubai's economic vision and commitment to fostering a resilient innovation landscape.
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In 2024, DFDF expanded its portfolio through direct investments and 12 Fund of Funds initiatives, aligning with the Dubai Economic Agenda to advance technology, talent, and venture capital in the region.
His Excellency Khalfan Belhoul, Chairman of DFDF's Board and CEO of the Dubai Future Foundation, emphasized the fund's role in driving the growth of Dubai's digital economy, highlighting its focus on innovation and future technologies across key sectors.
Beyond capital allocation, DFDF engaged in strategic partnerships with entities like Dubai Land Department and Dubai Health, exploring innovation collaborations that align government priorities with startup-driven solutions.
Nader Albastaki, Managing Director at DFDF, noted that 2024 was pivotal for the fund, scaling investments and supporting innovators driving meaningful change. He expressed enthusiasm for 2025, designated as the Year of the Community, focusing on deeper collaboration and ecosystem resilience.
DFDF's investment strategy involves deploying capital into venture capital funds with a local focus and directly into startups, aiming to boost venture capital investing and business activity in Dubai and the region.
The fund's commitment to sustainability was underscored by allocating up to 20% of its AED 1 billion fund to climate technology and innovation, aligning with the UAE's broader vision for economic diversification and sustainable development.
Arif Amiri, CEO of DIFC Authority and DFDF Board Member, highlighted the fund's dedication to driving growth and supporting sustainability-focused tech ventures, emphasizing the importance of collaboration in cultivating innovation.
DFDF's efforts contribute to Dubai's ambition to establish itself as a global technology and innovation hub, reinforcing its position as a premier destination for global talent and entrepreneurship.
