du Launches US$50M Venture Fund with Shorooq to Back UAE Startups

Mahmoud Adi (Shorooq Founding Partner) and Fahad Al Hassawi (du CEO)

UAE-based telecom and digital services provider du has unveiled du Ventures, a US$50 million corporate venture fund created in partnership with investment firm Shorooq. The initiative marks a strategic expansion of du's role beyond telecommunications and into venture-backed digital innovation.

The fund aims to support startups developing next-generation technologies while strengthening the UAE's position as a regional innovation hub. By combining venture capital with du's infrastructure, enterprise network, and market access, the program seeks to accelerate startup growth and commercial adoption.

The launch aligns with the UAE's broader digital transformation agenda, which has seen major ecosystem-building initiatives led by entities such as Hub71, ADGM, DIFC Innovation Hub, and NEOM's regional technology partnerships.

What Sectors Will du Ventures Invest In?

du Ventures will target startups operating in high-growth technology sectors that align with both market demand and du's strategic priorities.

Investment Focus Areas

• Artificial Intelligence (AI)
• Fintech
• Cybersecurity
• Cloud Infrastructure
• Loyalty and Rewards Platforms
• Gaming Technologies
• Enterprise Software Solutions
• Customer Experience Technologies

These sectors continue to attract significant investment across the Middle East, particularly as governments and enterprises increase spending on digital transformation, cybersecurity resilience, and AI adoption.

How Will the du-Shorooq Partnership Support Startup Growth?

The fund will be managed by Shorooq, one of the MENA region's leading multi-strategy investment firms. Beyond capital deployment, the partnership is designed to provide founders with access to strategic infrastructure, enterprise customers, and commercialization opportunities.

According to du, a significant portion of investments will be directed toward UAE-based startups, supporting local innovation and entrepreneurship.

Key Contributions from Each Partner

Partner	Strategic Role
du	Provides telecommunications infrastructure, enterprise reach, customer access, and commercialization opportunities
Shorooq	Manages fund operations, investment sourcing, portfolio support, and venture expertise
Startups	Develop scalable digital solutions across priority technology sectors

This model reflects a growing trend across global corporate venture capital (CVC) programs, where large enterprises increasingly act as strategic growth partners rather than solely financial investors.

What Does This Mean for the UAE Startup Ecosystem?

The launch of du Ventures adds another institutional funding source to the UAE's rapidly expanding startup ecosystem.

Corporate venture funds are becoming increasingly important as founders seek not only capital but also distribution channels, enterprise partnerships, and access to large customer bases.

The UAE has emerged as one of the Middle East's most active startup markets, attracting billions of dollars in venture investment over the past decade. Programs operated by ecosystem builders such as Hub71 and regulatory frameworks established by ADGM have further strengthened the country's attractiveness for technology entrepreneurs and investors.

By committing US$50 million toward innovation-driven startups, du is positioning itself as a strategic participant in the country's next phase of digital economic growth.

What Did du and Shorooq Say About the Initiative?

Fahad Al Hassawi, CEO of du

According to Fahad Al Hassawi, du Ventures reflects the company's commitment to supporting meaningful digital transformation and contributing to the UAE's ambition of building a globally competitive digital economy.

He noted that the fund will focus on founders and technologies that align with du's strategic priorities, leveraging the company's scale and infrastructure to accelerate commercialization and generate long-term value.

Mahmoud Adi, Founding Partner at Shorooq

Mahmoud Adi described the partnership as a natural fit, emphasizing the shared belief that startups require more than funding to succeed.

He highlighted that du Ventures will help bridge the gap between innovation and scale by combining venture capital with strategic infrastructure, enabling founders to bring transformative technologies to market more efficiently.

What Comes Next for du Ventures?

With an initial capital commitment of US$50 million, du Ventures is expected to begin identifying and backing startups capable of addressing enterprise and consumer challenges through emerging technologies.

As competition intensifies among regional innovation hubs, the fund could play a significant role in supporting the next generation of UAE-based technology companies while reinforcing the country's position as a leading destination for venture-backed digital innovation.

 

 

 

FAQ

1. What is du Ventures?
du Ventures is a US$50 million corporate venture fund launched by du in partnership with Shorooq to invest in high-growth technology startups across the UAE and the broader region.

2. Which sectors will du Ventures invest in?
The fund will target startups operating in AI, fintech, cybersecurity, cloud infrastructure, gaming, loyalty solutions, enterprise software, and customer experience technologies.

3. Who manages du Ventures?
The fund is managed by Shorooq, a MENA-based multi-strategy investment firm with experience investing in technology startups and growth companies.

4. Will du Ventures focus on UAE startups?
Yes. A significant share of the fund's investments will be dedicated to UAE-based ventures, supporting local innovation and entrepreneurship.

5. Why is du launching a venture capital fund?
The initiative allows du to expand beyond telecommunications into digital innovation, support emerging technologies, accelerate commercialization opportunities, and contribute to the UAE's digital economy goals.