Desiis increases Oryx Capital to 1B AED
The Dubai Integrated Economic Zones Authority (DIEZ) announced the doubling of the venture capital fund size for Asia Capital from 500 million AED to 1 billion AED, along with increasing the maximum investment limit from 3 million USD to 6 million USD. This aims to support a broader range of technology and innovation companies. The new approach focuses on investing in high-growth potential firms across sectors such as FinTech, artificial intelligence, and healthcare, with the goal of building globally leading companies and fostering an attractive investment environment in Dubai. Since its launch in November 2023, the fund has generated recurring revenues of 387 million USD, raised 1.1 billion USD in funding, and currently supports 66 active companies, all aligned with Dubai’s vision to be a hub of innovation and entrepreneurship.
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