Raiven Capital Launches $125 Million New Fund in Dubai
The ICT market in the UAE was valued at $36.14 billion in 2022.
Raiven Capital announces the launch of a new $125 million venture capital fund in Dubai International Financial Center (DIFC), the region's leading global financial hub.
The fund will prioritize entrepreneurs creating artificial intelligence, Internet of Things (IoT), and distributed ledger technology, with a focus on digital platforms upending value chains in the energy, food, health, and finance sectors, among other industries.
During the third quarter (Q3) of 2023, $250 million was raised across 78 deals in MENA venture capital funding, a 32 percent increase from Q2 of 2023, according to MAGNiTT's MENA Venture Investment Premium Report.
The ICT market in the UAE was valued at $36.14 billion in 2022 and is projected to increase at a compound annual growth rate (CAGR) of 12.46 percent to $65 billion by 2027.
With its headquarters in Silicon Valley and Toronto, Raiven Capital is a multinational venture capital firm that specializes in IoT, DLT, and artificial intelligence.
Raiven actively seeks out entrepreneurs creating businesses that optimize value chains in a variety of industries, including food, energy, healthcare, finance, and cybersecurity.