•  Raiven Capital launches a USD 125 million venture capital fund in Dubai International Financial Centre (DIFC) to support tech founders in AI, IoT, and Distributed Ledger Tech.

•  The fund will focus on digital platforms disrupting value chains in finance, energy, health, environment, food sectors, and more.

•  Raiven Capital aims to create bridges between its home country, Canada, and Dubai, connecting high-growth tech ecosystems.

•  Raiven Capital’s ambitious plans connect Canada, the UAE, Silicon Valley, and other high-growth tech ecosystems in the region.

Raiven Capital announced the launch of a new USD 125 million venture capital fund in Dubai International Financial Centre (DIFC), the leading global financial hub in the Middle East, Africa, and South Asia (MEASA) region, according to a statement.

The fund will focus on founders developing tech in AI, the Internet of Things, and Distributed Ledger Tech, with a particular emphasis on digital platforms disrupting value chains in finance, energy, health, environment, food sectors, and more.

“The fund will serve the needs of the local startup ecosystem, enabling them to become regional and global competitors, while providing Raiven’s existing community of start-ups and investors access to all advantages of the Middle East and the broader region.”

“Investing in innovation in early and growth-stage tech companies in GCC, South Asia, and North/East Africa and enabling them to blossom into leaders by connecting them to markets and capital in Europe and North America, via Raiven’s new Dubai hub, is what we are most excited about,” noted General Partner, Raiven Capital, Paul Dugsin. 

“The fund will serve the needs of the local startup ecosystem, enabling them to become regional and global competitors, while providing Raiven’s existing community of start-ups and investors access to all advantages of the Middle East and the broader region.”

Arif Amiri, Chief Executive Officer, of DIFC Authority, said: “We welcome Raiven Capital to DIFC. Raiven’s focus on nurturing early and growth-stage AI, IoT, and distributed ledger tech startups through the launch of this new venture capital fund shows strong confidence in Dubai’s economy, talent base, and future-forward entrepreneurial ecosystem. 

“The firm’s presence in DIFC will not only benefit the local startup community in taking the future of tech to new heights but also provide Raiven’s global network of founders and partners with access to a wealth of resources in the MEASA region and beyond.”

General Partner, Raiven Capital, Supreet Manchanda noted the fervor around Dubai’s ecosystem and the opportunities it presents: “We are thrilled to be in a place growing exponentially. Founders are eager to contribute to global innovation. The government’s robust support for entrepreneurship is impressive and unlike any other place at this time. We look forward to meeting the best and brightest in Dubai and DIFC in particular. There are great things ahead.”

The Toronto-based fund is creating bridges between its home country and Dubai, an exciting development. “We are thrilled that Raiven Capital, a Canadian venture capital fund, is the first of its kind to obtain a license to operate in DIFC in Dubai. 

Raiven has ambitious plans for the region connecting Canada, the UAE, Silicon Valley, and other high-growth tech ecosystems. We look forward to working with them,” said Tracy Reynolds, Canada’s Consul General in Dubai.

The tech industry in UAE and regionally has recently seen substantial expansion. Yet, funding is falling behind the quick speed of change and technological adoption. This is drawing global technology businesses and international venture capitalists to the region.