Dubai: The Dubai Future District Fund, established initially as a Dh1 billion fund to support entrepreneurs and startups, now has 16 enterprises under its portfolio, with the value of investments expected to reach $1.7 billion by 2025.
This was revealed at the fund’s first annual general meeting in the presence of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of The Executive Council of Dubai and the Chairman of the Board of Trustees of the Dubai Future Foundation, and Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, and Deputy Prime Minister and Minister of Finance of the UAE.
The meeting reviewed the DFDF’s achievements to date and discussed ways to support technology companies in the early stage of their growth, facilitate their future public listing on the Dubai stock market and help them leverage investment opportunities to boost their future projects.
Sheikh Hamdan said: “Dubai has become an international gateway for ambitious investment opportunities, a hub for future-driven project funding and a global testbed for tomorrow’s technology and digital economy applications. The emirate provides the ideal environment for technology ventures to develop the highest standards of agility and transparency and create opportunities for individuals, organisations and societies.”
“As part of Dubai’s aim to transform itself into one of the world’s top digital economies, we continue to provide world-class regulatory frameworks and infrastructure designed to empower technology entrepreneurs and catalyse innovative smart projects, particularly those related to fintech and smart financing solutions. Thanks to these efforts, Dubai has become an attractive destination for startups, experts, tech giants, coders and digital nomads, as well as fintech companies seeking to list on Dubai’s stock market.”
Sheikh Maktoum stated that Dubai’s model for designing and shaping a sustainable future is focused on accelerating the adoption of new technologies in different sectors. This model is central to Dubai’s efforts to boost economic growth and implement national initiatives and strategies and plays a vital role in advancing UAE’s rankings in economic, digital, legislative, and future growth indicators, he added.
“The DFDF embodies our commitment to support futurists, entrepreneurs, innovators, startups, and technology companies. It creates opportunities for businesses based in Dubai to grow and expand locally, regionally and globally by taking advantage of Dubai’s integrated systems, future-driven regulations and technological advancement,” added Sheikh Maktoum.
DFDF’s investment portfolio currently includes 16 entrepreneurial startups and investment funds operating in future technology, stock management solutions, the metaverse, digital content, banking, payments, real estate, healthcare, and artificial intelligence.
Chaired by Sheikh Maktoum, DFDF is a development initiative launched by Dubai’s Securities and Exchange Higher Committee.