Dubai - Sharikat Mubasher: du, the leading telecom and digital services provider, announced the launch of du Ventures, a $50 million corporate venture fund developed in partnership with Shorooq, to accelerate the next wave of digital innovations across the UAE and the broader region.
The fund will partner with promising startups and founders who transform emerging technologies into real-world solutions, focusing on companies across fintech, AI, cybersecurity, cloud, loyalty, gaming, enterprise solutions, and customer experience technologies, the company revealed in a statement today.
du Ventures will be managed by Shorooq, with a significant share of investments dedicated specifically to UAE-based ventures.
“du Ventures represents our commitment to driving meaningful digital transformation while contributing to the UAE's ambitions to build a globally competitive digital economy. Through this platform, we are investing in technologies and founders that align closely with our strategic priorities,” said Fahad Al Hassawi, CEO at du.
In turn, Mahmoud Adi, Founding Partner at Shorooq, stated that du Ventures will enable the company to bridge the gap between innovation and scale, empowering founders to bring transformative solutions to market faster.
Moreover, the launch of du Ventures represents a significant milestone in du's evolution beyond traditional telecom services into a comprehensive digital ecosystem player.
