DIEZ Doubles Oraseya Capital Fund to $272M and Lifts Per-Company Cap

Dubai Integrated Economic Zones Authority has doubled the venture capital fund it operates through Oraseya Capital, taking it to $272 million, or AED 1 billion, from $136 million, or AED 500 million. The authority announced the increase on Sunday.

The same decision raised the maximum the fund will commit to any single portfolio company to $6 million from $3 million. The higher ceiling lets Oraseya join larger financing rounds and keep backing businesses as they reach more advanced stages of growth.

A fund built for later rounds

DIEZ says the expansion is meant to widen the fund's reach into companies with global growth potential. Mohammed Al Zarooni, the authority's chief executive, said the doubling reflects what Oraseya Capital's model has delivered since its launch, and gives DIEZ more capacity to meet the needs of promising companies at various stages of growth and to build more consequential investment partnerships.

Sheikh Ahmed bin Saeed Al Maktoum, who chairs DIEZ, said the larger fund reflects the authority's wish to invest in Dubai's potential as a global hub for the next generation of technology pioneers.

Ticket size is the other half of the change, and for founders it is the more immediate one. A $3 million cap limits what a single investor can put into a company. At $6 million, the fund can commit twice as much to one business. Because the mandate already stretches to Series B, the extra headroom applies across every stage the fund covers.

The two figures do different jobs. Fund size sets how much capital DIEZ has available to deploy in total. The per-company ceiling sets the largest cheque the fund can write. Raising both is what makes backing companies deeper into their growth possible.

Portfolio and pipeline

Oraseya Capital launched in November 2023 to back technology startups from pre-seed through Series B. Its portfolio holds 66 active companies. Investment activity has been strong in fintech, enterprise software, proptech and HR technology.

A large share of the deal pipeline arrives through DIEZ's SANDBOX accelerator, which moves early-stage technology founders into the fund's investment funnel. The two operate as a pair: SANDBOX brings founders in at the earliest point, and Oraseya can then invest from a mandate that runs to Series B.

Companies that take the fund's money have to maintain operational ties to Dubai and the UAE. That condition sits in the mandate and applies across the portfolio.

By deal volume, Oraseya Capital remains the most active venture capital investor in the UAE, based on data from MAGNiTT. The measure is the number of deals, not the capital committed.

The doubling covers the fund DIEZ runs through Oraseya. Oraseya Capital manages the money; DIEZ, a Dubai government authority, sets the mandate and the investment limits.