DUBAI: du, a telecom and digital services provider, on Wednesday announced the launch of du Ventures, a $50 million corporate venture fund formed in partnership with investment firm Shorooq.
The fund aims to accelerate digital innovation across the UAE and the broader region, marking du’s push beyond traditional telecom services and toward a broader digital ecosystem role.
du Ventures will invest in startups focused on fintech, artificial intelligence, cybersecurity, cloud computing, loyalty programs, gaming, enterprise solutions and customer experience technologies.
“du Ventures represents our commitment to driving meaningful digital transformation while contributing to the UAE’s ambitions to build a globally competitive digital economy,” Fahad Al Hassawi, CEO of du, said in a statement. “Through this platform, we are investing in technologies and founders that align closely with our strategic priorities.”
Al Hassawi said du’s scale, infrastructure and enterprise reach, combined with startup innovation, would help accelerate commercialization of emerging technologies and create long-term value for customers, shareholders and the wider economy.
Shorooq, a multi-strategy investment firm, will manage the fund and prioritize investments that align with du’s corporate strategy. A significant share of the investments will be dedicated to UAE-based ventures.
“Partnering with du on this initiative is a natural fit for Shorooq,” said Mahmoud Adi, founding partner at Shorooq. “We share a common belief that the region’s most promising startups deserve access to both capital and the strategic infrastructure that du can offer.”
Adi said du Ventures would help bridge the gap between innovation and scale, allowing founders to bring transformative solutions to market faster.
du is a UAE-based provider of mobile, fixed, broadband, entertainment and fintech services. Shorooq, founded in 2017, operates across venture capital, credit, private equity and real assets, with a focus on technology-driven sectors.
