UAE telecom operator du has launched du Ventures, a $50M corporate venture fund targeting startups developing technologies in areas including artificial intelligence, fintech, cybersecurity, cloud and enterprise solutions.
The fund will be managed by UAE-based investment firm Shorooq, which has backed more than 80 technology startups across MENA and beyond. The initiative marks du’s first official move into venture capital as it seeks to expand its role beyond connectivity and into the wider digital economy.
du Ventures will focus on early- to growth-stage companies with demonstrated traction, a clear value proposition and founders prepared to scale. UAE startups are expected to receive most of the funding, although the fund will also consider exceptional opportunities from across the region, according to the announcement.
There will be no fixed investment ticket size. Allocations will depend on a company’s stage, the opportunity and its strategic fit with du. Alongside capital, selected startups could gain access to du’s infrastructure, enterprise network and customer base.
du CEO Fahad Al Hassawi said the fund is intended to help bring emerging technologies to market faster while supporting the UAE’s digital economy ambitions. Shorooq founding partner Mahmoud Adi said the partnership would combine funding with strategic infrastructure to help founders scale.
Source: Inc. Arabia
