Raiven Capital, a global technology venture firm based in Palo Alto, CA, and Toronto, Canada, launched a new USD 125M venture capital fund in Dubai International Financial Centre (DIFC).
The fund will focus on founders in Gulf Cooperation Council (GCC) countries, South Asia, and North/East Africa, developing tech in AI, Internet of Things and Distributed Ledger Tech.
Led by General Partners Paul Dugsin and Supreet Manchanda, Raiven Capital actively seeks founders developing digital platforms disrupting value chains in finance, energy, health, environment, food sectors, and more.
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. MENA venture capital funding in Q3 of 2023 saw USD250M raised across 78 deals, a 32 % increase compared to Q2 of 2023, according to MAGNiTT’s MENA Venture Investment Premium Report. This is drawing global technology businesses and international venture capitalists to the region.