DFDF's Vision Unveiled: AED 1 Billion Fund Focusing on Global Innovation and Sustainable Finance

What's the Deal

Mokshita P.
What's the Deal
Published:

DFDF's Vision Unveiled: AED 1 Billion Fund Focusing on Global Innovation and Sustainable Finance

DFDF, the Dubai Future District Fund, has completed over 25 investments since its 2022 inception, with a focus on enhancing Dubai's venture capital ecosystem. The AED 1 billion fund is committed to sustainability and climate technology, allocating up to 20 percent of its funds to support innovation in this sector. The Oversight Committee highlighted DFDF's achievements, including investments in startups and a commitment to the Dubai Clean Energy Strategy 2050 and UAE Net Zero 2050.

The Oversight Committee of Dubai Future District Fund convened to assess the fund's accomplishments and outline future strategies aimed at boosting the entrepreneurial ecosystem in Dubai and the broader UAE.

Since its establishment in 2022 by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, DFDF has completed over 25 investments, amounting to AED 1 billion. The fund's mission is to enhance Dubai's venture capital ecosystem, sustainable finance and global innovation.

The Oversight Committee meeting, attended by key figures such as His Excellency Essa Kazim, Governor of DIFC, and His Excellency Khalfan Belhoul, Chairman of DFDF, highlighted the fund's commitment to sustainability. In December 2023, DFDF earmarked up to 20 percent of its fund to support climate technology and innovation, aligning with the Dubai Clean Energy Strategy 2050 and the UAE Net Zero 2050 strategy.

As DFDF enters its third year, the Oversight Committee recognised the fund's achievements, including 14 new investments in startups, three follow-on investments, and six fund investments in the Future of Finance and Future Economies sectors in Dubai.

The Committee applauded DFDF's efforts in capacity building through the DFDF Venture Fellows program, involving 12 aspiring Emirati professionals and entrepreneurs in a Venture Capital Fund Simulation program.

Emphasizing the importance of supporting startups, the Committee stressed the role of venture capital investment in creating value in portfolio companies, scaling operations, and enhancing corporate governance.

Government and private sector leaders' collaborative efforts were acknowledged for driving innovation and supporting startups, with DFDF playing a key role in shaping the landscape of innovation and investment in the region.

His Excellency Essa Kazim, Governor of DIFC, commented on DFDF's growth journey, highlighting its role in sustainable finance and global innovation. He emphasised the important partnership between public and private sectors in shaping Dubai's innovation trajectory.

His Excellency Khalfan Belhoul, CEO of the Dubai Future Foundation and Chairman of DFDF, affirmed that DFDF significantly contributed to strengthening the entrepreneurship scene in Dubai, aligning with the vision that Dubai is the best destination for emerging companies.

Arif Amiri, CEO of the DIFC Authority and Board Member of DFDF, commended DFDF as a beacon in Dubai's venture capital landscape. He praised the fund's commitment to climate technology and its strong investment strategy, propelling over 25 ventures and nurturing international and Emirati talent.

Sharif El-Badawi, CEO of DFDF, highlighted the fund's achievements in championing sustainable finance and global innovation. He reiterated DFDF's commitment to nurturing startups and driving sustainable growth, ensuring its role in shaping a vibrant, innovation-driven future for Dubai.

UAE startups account for an impressive 52 percent of all venture deals in the MENA region, with 44 percent of all venture capital having a presence in the UAE. As DFDF embarks on its journey, it continues to be a driving force in shaping the future of sustainable innovation, talent, and growth in Dubai.