Home » Dubai Future District Fund’s (DFDF) achievements and strategies reviewed

Dubai Future District Fund’s (DFDF) achievements and strategies reviewed

by Madaline Dunn

The Oversight Committee of Dubai Future District Fund (DFDF) recently met to assess the Fund’s achievements to date and outline future strategies.

The DFDF is a collaborative effort between the DIFC and the Dubai Future Foundation (DFF), and was launched by His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, and President of Dubai International Financial Centre (DIFC).

At the meeting, the Committee reviewed DFDF’s completion of over 25 investments since its inception in 2022.

Also discussed was the AED 1 billion Fund’s mission to enhance Dubai’s venture capital ecosystem by driving sustainable finance and innovation on a global scale.

Further, DFDF earmarked up to 20 per cent of its AED 1 billion fund for supporting climate technology and innovation in December 2023.

The Oversight Committee highlighted the fund’s key achievements of the past year, including 14 new investments in five startups and three follow-on investments, as well as six fund investments that are innovating in the Future of Finance and Future Economies sectors in Dubai.

Also recognised was the fund’s capacity-building efforts of the inaugural DFDF Venture Fellows programme, where 12 aspiring Emirati professionals and entrepreneurs participated in the Venture Capital Fund Simulation programme. This drew 40 participants from the UAE venture capital ecosystem.

The Committee highlighted the importance of supporting startups in their growth journey, as well as the role of venture capital investment in supporting startups, not only through funding but also by creating value in the portfolio companies, scaling operations, and strengthening corporate governance.

The meeting also highlighted the collaborative efforts of government and private sector leaders to drive innovation, support startups, contributing to the UAE’s transition to a sustainable future.

His Excellency Essa Kazim, Governor of DIFC, commented: “DFDF’s growth journey is encouraging and epitomises the vision for Dubai’s venture capital landscape by pioneering sustainable finance, catalysing global innovation, and aligning with strategic missions such as the Dubai Clean Energy Strategy 2050 and UAE Net Zero 2050. The Oversight Committee’s recognition of DFDF’s role in fostering scale-ups and the collaborative drive toward a sustainable future underscores the pivotal 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, added: “During the coming period, the Fund will focus on continuing its efforts to provide an integrated system to support emerging companies and provide financing, expertise, guidance, and other support programmes such as business accelerators and capacity building initiatives, in a way that contributes to enhancing their ability to grow and benefit from the business-friendly environment that stimulates innovation.”

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