Dubai International Financial Centre (DIFC) has launched a $10 million fintech fund, appointing Wamda Capital and Middle East Venture Partners (MEVP) to manage it.
Fintech startups in the Gulf Cooperation Council countries are expected to raise $2 billion in investments over the next decade, according to a study by Mena Research Partners (MRP).
DIFC wants to be part of this through the fund, investing in firms from incubation all the way through to the growth stage.
Khaled Talhouni, partner, Wamda Capital, says: "We are looking forward to working closely with our partners at DIFC to develop a vibrant fintech ecosystem serving the needs of our wider region."