Dubai Future District Fund and Buimerc Corporation to strengthen Dubai’s venture capital ecosystem

Detailed summary

Collaboration aims to strengthen ties with India’s investment ecosystem in Dubai while attracting capital, talent and expertise ...

Dubai Future District Fund (DFDF) and Buimerc Corporation Ltd have agreed on a strategic cooperation at the Consulate General of India in Dubai, in the presence of Dr Deepak Mittal, ambassador of India to the UAE; Dr Vishnu Vardhan Reddy, consulate general of India in Dubai, and other dignitaries.

The statement sets out the two organisations’ shared intention to explore cooperation in supporting Dubai’s venture capital ecosystem. Areas include sharing market insight and knowledge, helping founders and venture managers establish a presence in Dubai, and running joint ecosystem initiatives such as founder programmes, delegations and events.

The signing reflects the close ties between the UAE and India and the ambitions of the Dubai Economic Agenda (D33) to establish Dubai as a leading global hub for innovation and the new economy. D33 sets out Dubai’s ambition to double the size of its economy and rank among the world’s top three global cities for investing, living and working. A thriving venture capital ecosystem is central to that ambition, and this collaboration supports it directly.

Dubai is increasingly becoming the natural base for Indian founders, fund managers and investors who are looking to build internationally. The cooperation brings together complementary strengths. DFDF, Dubai’s venture capital fund of funds, invests in line with D33 and sits at the centre of Dubai’s venture ecosystem. Buimerc, a Dubai-based investment Company, with Indian roots, brings a generational outlook, deep knowledge of both the UAE and India, and a proven long-term view of building value. Both organisations share a long-term commitment to Dubai’s venture ecosystem, entrepreneurship and on building institutions and relationships that last.

Dr Deepak Mittal said: “The signing of this MoU is a welcome step towards further strengthening the strong and dynamic ties between India and UAE, by fostering greater collaboration in the venture capital ecosystem and facilitating new…

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