du Launches $50M Venture Fund for UAE Startups
UAE telecom du launched 'du Ventures', a $50 million corporate venture fund in partnership with Shorooq to invest in regional startups focused on emerging technologies. This fund will provide crucial capital for tech innovation across the UAE.
UAE telecom giant du has established 'du Ventures', a new corporate venture capital fund capitalized at $50 million. This initiative, launched in collaboration with Shorooq, aims to invest in startups developing advanced technologies such as AI, fintech, and cybersecurity across the UAE and the broader region.
The fund represents a significant commitment from a major corporate player to bolster the local startup ecosystem. It provides much-needed capital and strategic support for early-stage companies, fostering innovation in key technological sectors.