Du, the UAE based telecom provider has launched a $50m venture capital fund in partnership with multi-strategy investment firm Shorooq.
Du Ventures will focus on companies across fintech, AI, cybersecurity, cloud, loyalty, gaming, enterprise solutions, and customer experience technologies.
The fund will be managed by Sharooq, with a mandate to focus a significant share of investments on UAE based ventures.
Fahad Al Hassawi, CEO at Du, said: “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. Leveraging Du’s scale, infrastructure, and enterprise reach with startup innovation, we aim to accelerate the commercialization of emerging technologies and create long term value for our customers, shareholders, and the wider economy.”
Mahmoud Adi, founding partner at Shorooq, commented: “Partnering with du on this initiative is a natural fit for 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. du Ventures will enable us to bridge the gap between innovation and scale, empowering founders to bring transformative solutions to market faster.”
Du reported revenue from its existing telecom and digital services of some $4.3bn for its 2025 financial year. The VC fund is intended to boost its “evolution beyond traditional
telecom services into a comprehensive digital ecosystem player”.