DIF Tech investments and growing interest in Dubai’s technology sector

Dubai is in the midst of a digital revolution fueled by the interest of investment companies such as the Dubai Investment Fund (DIF) and the support of the UAE government. In the year In 2001, Microsoft opened its first regional base in Dubai, the United Arab Emirates with a 50-year rent-free incentive and the promise of 100% repatriation of capital. A technology trend began and soon HP, IBM, SAP, Oracle, 3M and Google established regional centers in Dubai.

This created a “cluster effect” that made Dubai an investment hub for tech companies. Today, the Internet City of Dubai is seen as the Silicon Valley of the Middle East. It is home to some of the largest billion-dollar unicorns in the Arab world, such as Telegram, Yalla Group, Careem, Souq, Maktoob, Property Finder, Media.Net, Vista Global, and Kitopi.

In line with the UAE government’s vision of a beyond oil economy, private sector investments are looking for new ways to expand the country’s economy. Tech is a popular theme for new investments in the region post-Covid. The government actively supports private investments in technology with 100% foreign ownership, zero corporate tax, easy exit plans for companies, strong business regulations and alternative funding channels. The country has 30 free trade zones with numerous incentives for technology start-ups and foreign investment funds.

Abu Dhabi International Markets (ADGM) Free Zone It is home to some of the largest private equity firms on a par with emerging economies such as Singapore, Malaysia, Israel and the United Kingdom. Dubai Investment Fund (DIF) is one company leading the change in the UAE. The fund manages more than $300 billion and actively invests in technology companies across various sectors. It invests in international stock markets and foreign companies in geographies through private equity partnerships.

The Dubai Investment Fund (DIF) was launched in 2001 and has remained strong through several cycles of inflation and recession. The investment philosophy is based on constant diversification and the discovery of new technologies. DIF is rapidly expanding its technology portfolio by investing in both mainstream and off-beat technology companies.

In the year In 2017, DIF further expanded its investment portfolio in the IT sector with leading technology companies and new startups. In the same year, DIF made large investments and took stakes in companies such as Qualcomm, Intuit, PayPal, Booking Holdings, VMware and AutoDesk.

“While we believe we have been extremely successful in growing our portfolio of companies in which we have invested in 2017, one thing is clear, investing in the right companies is key to our strategy going forward,” said DFF CEO Amir Shams. As DIF grows and investment terms and parameters change, we are committed to creating new opportunities for our portfolio companies and ourselves as we continue to seek opportunities that align with DIF’s three pillars – diversification, innovation and growth.”

According to DFF CEO Amir Shams, these investments will help the company’s investors reap the benefits of the upcoming digital revolution in the Arab world. DIF is well positioned in the entire MENA region’s technology chain through a network of long-term partnerships with several international companies.

DIF’s core portfolio includes hydrocarbons, heavy industries, infrastructure, telecommunications, finance and clean energy investments. While DIF holds majority shareholder status in some large regional corporations and parent companies, its technology investments can leverage core portfolio investments.

DIF is also active in the UAE’s Artificial Intelligence (AI) ambitions. The company was the first to launch the Dubai AI Lab in 2016 to develop machine learning capabilities and gain insight into the future possibilities of AI. DIF is a critical investment partner for established brands and regional technology startups. It is one of the most diversified currencies in the world, with roots in Asia, Europe and the US. The fund serves more than 7300 individual and institutional clients in 61+ countries. The company looks beyond short-term profits to explore long-term partnerships with companies, institutions and government bodies for the betterment of the local community and environment. DIF is one of the most prominent investors in green energy in the Middle East, Africa, Europe and Asia.

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