Posted on
August 2, 2022

Top 10 Dubai Venture Capital Firms: 2024 List

Maximilian Fleitmann
Co-Founder @ BaseTemplates
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Dubai venture capital investors are a new and dynamic set of entrepreneurs that have evolved over the past few years, attracting global recognition. In 2022, the UAE accounted for $3 billion of the total $120 billion VC investment in the Asia & Oceania region, up from $796 billion in 2020.

As this trend continues with the Gulf’s expansion into emerging markets, the region attracts more high profile entrepreneurs to Dubai with their innovative business ideas and unique approaches to capital raising. It’s interesting to follow their paths to success as they set new records in business in UAE and other Gulf states.

This post is part of a series where we present the best venture capital firms across different cities and countries. In this article, we’ll analyze the top 10 Dubai venture capital firms, discussing vital info like fund size and notable exits.

Check out this post for our ranking of the top 9 United Arab Emirates VC investors.

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Top Venture Capital Firms in Dubai

Outlined below is our list of the top 10 venture capital firms in Dubai. Join us as we analyze how these firms are transforming the startup investment industry!

  • FasterCapital
  • VentureSouq
  • Wamda Capital 
  • Middle East Venture Partners (MEVP)
  • Vy Capital
  • BECO Capital
  • Empede Capital 
  • Global Ventures 
  • Morningstar Ventures
  • Woodstock Fund

Continue reading to learn more about each venture capital firm.

1. FasterCapital

FasterCapital-VC-Dubai
  • Website: www.fastercapital.com/
  • Founded: 2010
  • Notable Exits: Huddle, RightNow Technologies, and Timios National Corp.

FasterCapital is an innovative online platform that operates as an incubator, accelerator, and service provider. Established in 2010, FasterCapital has a unique work-per-equity model that sets it apart in the startup ecosystem. The firm assists startups and small-to-medium enterprises (SMEs) globally in their growth journey by offering technical or business development services in exchange for equity.

FasterCapital’s model is particularly beneficial for startups and SMEs looking for more than just financial investment. By offering technical and business development services, this venture capital investor provides invaluable resources and expertise that can help these companies navigate their industries and markets more effectively.

In addition to its service offerings, FasterCapital also aids companies in securing capital from various funding sources such as angel investors, venture capitalists, micro VCs, and more. This guidance can be crucial in ensuring these companies secure the right kind of funding for their specific needs and growth plans.

FasterCapital has a track record of successful exits, including Huddle, RightNow Technologies, and Timios National Corp. These success stories highlight the potential for startups and SMEs that partner with FasterCapital to achieve significant growth and successful outcomes.

In essence, FasterCapital isn’t just a funding source; it’s a partner that’s committed to providing the resources, expertise, and funding avenues that startups and SMEs need to succeed in today’s competitive business landscape.

2. VentureSouq

VentureSouq-VC-Dubai

VentureSouq, founded in 2013, is a leading venture capital firm based in the Middle East and North Africa (MENA) region. With a current focus on FinTech and ClimateTech, VentureSouq operates a large co-investment platform and manages thematic funds that cater to these burgeoning sectors. Its global portfolio is a testament to its expansive reach and expertise in identifying and investing in innovative tech companies.

The firm is dedicated to empowering visionary founders who are at the helm of transformative tech companies. By providing them with the necessary capital and support, VentureSouq plays a pivotal role in shaping the future of technology and innovation.

Additionally, VentureSouq, in collaboration with startAD, hosts an annual symposium—Angel Rising—that has reached an impressive digital audience of 11 million people worldwide. This platform serves as a long-term investment in fostering dialogue, sharing insights, and building a global community centered around venture capital and technology.

With a total fund size of $50M, VentureSouq has successfully led several companies to notable exits, including Souqalmal, Cloosiv, and Hoss. These achievements highlight the firm’s ability to identify high-potential investment opportunities and guide them toward substantial growth.

VentureSouq is more than just a funding source; it’s a partner committed to ushering in the next wave of tech innovations by supporting the visionaries who dream them into reality.

3. Wamda Capital

Wamda Capital-VC-Dubai

Wamda Capital, established in 2014, is recognized as one of the most influential venture capital firms in the MENA region. It takes pride in its primary focus on investing in exceptional entrepreneurs who are at the forefront of the region’s burgeoning technology landscape.

Wamda Capital is not just a financial resource but also a strategic partner for high-potential startups. The firm invests at both the seed and growth stages, with a comprehensive approach that includes guiding portfolio companies through successive rounds of financing all the way to exit. This end-to-end partnership demonstrates Wamda Capital’s commitment to nurturing the region’s most promising tech businesses and contributing to the MENA region’s tech ecosystem.

With a total fund size of $125.7M, Wamda Capital has successfully backed several companies that have gone on to achieve significant success. Its most notable exits include Careem, a ride-hailing app that Uber later acquired; MUNCH:ON, a food delivery platform; and Mumzworld, a popular online retail store for baby products. These successful exits underscore Wamda Capital’s keen eye for potential and its strategic approach to investment.

Wamda Capital continues to pave the way for technology and innovation in the MENA region by supporting visionary entrepreneurs and fostering the growth of transformative businesses.

4. Middle East Venture Partners (MEVP)

Middle East Venture Partners (MEVP)-VC-Dubai
  • Website: http://www.mevp.com/
  • Founded: 2010
  • Total fund size: $327M
  • Notable Exits: Anghami, Volt Lines, and TreasuryXpress.

Middle East Venture Partners (MEVP), established in 2010, is a venture capital firm that stands at the forefront of the flourishing startup ecosystem in the Middle East. With a particular emphasis on the GCC and Levant countries, MEVP invests in the early and growth stages of innovative companies steered by driven entrepreneurs.

MEVP boasts over $300M in assets under management (AUM) and has a vast network of offices in Dubai, Bahrain, Beirut, Abu Dhabi, Cairo, and Riyadh. This testifies to its cross-border investment appetite and strategic partnerships, making it the largest VC firm in the region, known for its.

MEVP’s portfolio is diverse, inclusive of startups like Money Fellows, which provides fractional ownership of rental properties in Dubai’s marquee city. It has also demonstrated successful exit strategies, as seen with its partial exit from Fresha. Notable exits include Anghami, Volt Lines, and TreasuryXpress, emphasizing MEVP’s keen ability to scout, nurture, and grow potential investments.

Beyond financial backing, MEVP is committed to guiding entrepreneurs through the challenging process of raising their first round of funding. It provides not just capital but also invaluable advice and resources, reinforcing its commitment to leveraging technology to improve lives.

With a total fund size of $327M, MEVP continues to fuel the growth of the region’s tech ecosystem by supporting visionary entrepreneurs with ambitious projects.

5. Vy Capital

Vy Capital-VC-Dubai

Founded in 2013 by Alexander Tamas, Vy Capital is a Dubai venture capital firm with a keen focus on the Internet and software sectors. The firm embodies the spirit of its name, which is an aviation term signifying the optimal speed and climb to maximize gain over time. This principle is at the heart of Vy Capital’s investment philosophy.

Vy Capital’s approach is to identify and invest in disruptive digital companies with the potential to change the landscape of their respective industries. With a total fund size of $354.1M, the firm deploys capital with an aim to accelerate growth and maximize returns, mirroring the “Vy” concept of achieving the greatest gain over time.

Over the years, Vy Capital has been associated with some of the most lauded deals in the tech industry. Its portfolio includes a diverse range of companies, each marked by innovative leadership and groundbreaking ideas. The firm’s most notable exits include Reddit, the renowned online platform for discussion and community building; Zomato, a leading global food delivery service; and Rigetti Computing, a trailblazer in quantum computing. These success stories underscore Vy Capital’s strategic vision and its knack for recognizing transformative tech startups.

Headquartered in Dubai, United Arab Emirates, Vy Capital continues to foster innovation and inspire entrepreneurs across the globe. The firm remains steadfast in its commitment to creating value and driving growth in the digital age.

6. BECO Capital

BECO Capital-VC-Dubai

Established in 2012 and based in Dubai, United Arab Emirates, BECO Capital is a venture capital firm with a singular focus on technology. They provide more than just financial support to early-stage technology companies. The firm’s approach includes hands-on operational mentorship, guiding startups through the complexities of growth and development in an increasingly digital world.

BECO Capital recognizes that breakthroughs often come from small beginnings. This is why they’re committed to empowering small companies with the necessary capital to scale, paired with valuable operational guidance. The company’s portfolio includes a diverse range of innovative startups, each making significant strides in their respective sectors.

With a total fund size of $150M, BECO Capital has been instrumental in the success stories of several tech companies. Some of their most notable exits include Careem, a ride-hailing platform that Uber acquired; Swvl, a mass transit system that aims to revolutionize commuting in emerging markets; and JadoPado, an e-commerce platform that Noon.com bought. These accomplishments underline BECO Capital’s knack for identifying and nurturing potential and its unwavering commitment to driving innovation in the tech industry.

7. Empede Capital

Empede Capital-VC-Dubai

Empede Capital, a venture capital firm, was founded in 2020 by a team of accomplished professionals with extensive expertise spanning cyber, technology, construction, and investment banking. The firm’s primary focus lies in innovation and industry disruption, investing in both direct and indirect opportunities on a global scale.

The unique strength of Empede Capital lies in its team’s diverse sector knowledge. This extensive background allows them to not only invest but also provide valuable strategic advice to their portfolio companies — a practice they refer to as deploying “smart capital.” This approach is a critical factor in their investment selection, guiding them to identify companies with significant growth potential.

Empede Capital’s investment portfolio boasts some impressive exits. These include BlockFi, a leader in cryptocurrency financial services; Unity, a groundbreaking platform for creating and operating real-time 3D content; and Ginkgo Bioworks, a company driving the future of synthetic biology. These exits highlight the firm’s knack for spotting potential in disruptive industries and the success of its “smart capital” approach.

8. Global Ventures

Global Ventures-VC-Dubai

Global Ventures is a renowned international venture capital firm that focuses on investing in founders and ideas across emerging markets. With a diverse and collaborative team of professionals, Global Ventures brings together a wealth of experience and expertise in building and scaling companies.

Since its establishment in 2018, Global Ventures has made significant contributions to the entrepreneurial ecosystem, with a total fund size of $1.5M. Notable exits from their portfolio include successful ventures like MUNCH:ON and Mumzworld, highlighting the firm’s commitment to supporting visionary founders and driving positive change in the world through strategic investments.

9. Morningstar Ventures

Morningstar Ventures-VC-Dubai

Morningstar Ventures is an investment firm dedicated to supporting ambitious early-stage founders in the dynamic world of blockchain and digital assets. Based in Dubai, United Arab Emirates, Morningstar Ventures is led by Chief Investment Officer Danilo S. Carlucci, who brings a wealth of expertise to the firm.

Morningstar Ventures actively engages in both equity investments and token investments, with a particular emphasis on the Elrond ecosystem. They have demonstrated their commitment to the Elrond community by launching the Elrond Dubai Incubator in October 2021. This incubator provides valuable support and resources to projects that are built with Elrond technology.

Additionally, Morningstar Ventures operates MSV STUDIO, an in-house development, design, strategy, and marketing arm that plays a vital role in supporting the firm’s portfolio companies. This arm of the company aims to provide comprehensive support to founders throughout their journey.

Since its inception in 2020, Morningstar Ventures has made significant strides in the crypto and blockchain space, backing visionary founders and contributing to the growth and development of the industry.

10. Woodstock Fund

Woodstock Fund-VC-Dubai

Woodstock Fund is a forward-looking multi-asset investment fund that specializes in providing growth capital and support to early and growth-stage startups centered around Distributed Ledger Technology (DLT). The firm closely observes and capitalizes on the paradigm shifts influencing the growth of the digital assets industry and increased adoption of Web 3.0.

Woodstock Fund believes in 3 megatrends that they believe will shape the growth of the Web 3.0 sector. First, they believe in the convergence of technology, society, and technology. Second, they foresee the growth and influence of DeFi through financialization. Lastly, they anticipate significant advancements in the metaverse through virtualization.

Woodstock Fund has been actively contributing to the technological landscape since its foundation in 2019. Their unique approach to investing and commitment to supporting groundbreaking technologies have made them a standout player in the distributed ledger technology (DLT) startup space.

Frequently Asked Questions

Who is the biggest investor in Dubai?

MEVP is the biggest VC investor in Dubai, with over $300 million in assets under management. The firm has offices in Dubai, Bahrain, Beirut, Abu Dhabi, Cairo, and Riyadh, underscoring its cross-border investment appetite.

How to find investors for startups in Dubai?

In Dubai, startups can find investors like venture capital firms through platforms such as AngelList, which connects promising companies with potential investors. This platform offers various features, such as reports and ratings, to help investors make informed decisions. Additionally, startups can network at industry events, explore local investment groups, or engage the services of specialized agencies to aid in their search for investment.

Does Goldman Sachs do venture capital?

Yes, Goldman Sachs does venture capital investments. Through its investment arm, GS Growth, the company invests in companies with diverse and gender-balanced leadership. Goldman Sachs also partners with clients to invest in investment managers with one or more diverse General Partners, spanning venture capital, growth equity, and private equity strategies. This effort highlights the firm’s commitment to promoting diversity and inclusion in the investment landscape.

Is Dubai a good place for startups?

Yes, Dubai is a good place for startups. The city’s business-friendly environment, characterized by a quick and straightforward setup process, diverse business opportunities, and potential for full ownership, makes it an attractive hub. Additionally, with modest initial investment requirements and enticing tax benefits, Dubai provides an unparalleled environment for small businesses and startups to flourish and grow.

Where do VC firms get their money?

Venture Capital firms primarily get their money from limited partners, which may include:

  • Pension Funds
  • Endowment Funds
  • Foundations
  • Corporations
  • Wealthy Individuals

These firms operate by pooling this capital into a fund, which they then invest into high-potential startups and businesses.

VC firms earn money through 2 primary sources:

  • Management fees
  • Carried interest

Management fees are typically a percentage of the fund’s value, paid annually. Carried interest, on the other hand, is a share of the profit from the fund’s investments, usually around 20%, that goes to the VC firm, while the remaining profit is returned to the limited partners.

How to reach rich people in Dubai?

Connecting with rich people in Dubai, United Arab Emirates, for startup funding requires a strategic approach, which may include:

  • Attending high-profile events such as annual stockholder meetings, business summits, and industry conferences, which often attract wealthy attendees.
  • Joining local business and entrepreneur associations can also provide opportunities to meet potential investors.
  • Engaging with Dubai’s vibrant startup ecosystem through accelerator and incubator programs. These programs often have connections with high-net-worth individuals and investment firms.
  • Utilizing LinkedIn to identify and connect with successful entrepreneurs and investors in Dubai can also be an effective strategy.

Remember, it’s not just about reaching out but also crafting a compelling pitch that demonstrates the potential of your startup.

👉 Full List of 55,000+ investors - Access now!
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