DFDF To Invest $54 Million in Climatetech
The announcement came on the sidelines of COP28's Finance Day.
Dubai Future District Fund (DFDF) has committed 20% of its AED 1 billion ($272 million) fund to climatetech, the fund announced on the sidelines of COP28’s Finance Day. The AED 200 million ($54.5 million) allocation will drive investment into foodtech and agritech, building materials, and logistics tech. [1]
DFDF is an AED 1 billion ($272 million) growth venture fund and direct investment platform that was launched in 2021 to invest in the future of finance and future economies. DFDF is a collaboration between Dubai International Financial Center (DIFC) and Dubai Future District (DFD).
DFDF, DFF, and DIFC are collectively backing sustainable finance and innovation, particularly in the areas of climatetech and alternative proteins. Alternative proteins are expected to be worth an estimated $1.4 trillion by 2050.
The GCC, which imports 80-90% of its food, is investing heavily in agritech.