DIFC And MEVP Strike MoU To Explore Investment Opportunities: The Dubai International Financial Center, a leading international financial hub in the MAESA community, and Middle East Venture Partners made an agreement to probe the investment and management opportunities in the Fintech’s $100Million fund. Walida Hanna, CEO at MEVP, a regional-based capital firm, asserts that the recent expansion of the startup capital has revitalized upcoming entrepreneurs and offered chances for transforming mere ideas into feasible business proposals.
The two organizations aim at facilitating flawless information exchange regarding the modern trends in the financial industry with a greater emphasis on Fintech. DIFC is certain that this memorandum of understanding will foster the development of the venture capital technology ecosystem in Dubai and help the two partners to work in tandem during the establishment of future regulations and other initiatives.
Walid Hanna stipulated that the MoU will allow DIFC to concentrate on the disruptive Fintech industry which carries a lot of potential in the entire MENA area. The $100 million fund by DIFC was made known to the public at the inaugural Global Financial Forum, which was hosted by DIFC in Q4 last year. This fund is meant for spearheading technological growth in the finance sector. It will be invested in startups from the early stages to development phase and assists companies that desire to penetrate MAESA (Middle East, Africa, and South Asia) marketplaces.
The DIFC governor, Essa Kazim confirmed that this decision was made on a purely commercial perspective without a predetermined maximum or minimum investment limits. Fintech ventures would require different amounts; some might need $2million while others $50000.
MEVP is licensed by Dubai Financial Service Authority and so its partnership with DIFC is indispensable as denoted by Arif Amir, the CEO of the free zone. A collaboration of the two entities is key in triggering the growth of a favorable investment environment in the venture capital sector of Dubai.