The Dubai International Financial Centre to make first investment from fintech fund

The Dubai International Financial Centre (DIFC) will be making the first investment from its US$100mn fintech fund.

The centre’s Chief Business Development Officer, Salmaan Jaffery, revealed plans to make the investment “shortly”, Zawya reported.

The fund “is in the process of being seeded and structured as we speak”, Jaffrey stated Funds Forum Middle East and Emerging Markets event held in the UAE’s capital on 4 November.

As part of its fintech operations, DIFC has also upgraded its regulatory technology platform, as well as its innovation and testing licence regime.

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“All of that is designed to invest and put money where our mouth is and to recognise that the process by which money is going to be gathered and deployed is changing, and we are going to change with it,” Jaffrey continued.

The centre conducted research discovering there will be between $500bn-$700bn funding gap in the coming 20 years in the Middle East, Africa, and Asia for infrastructure investment.

“That presents long-term opportunities, and then the question is what is the form of capital and asset classes that funds and finances that?”

“There are a myriad of conversations on whether it should be PE (private equity), which will play a role but not fully, PPP [public-private parnterships], project finance etc.”

“It’s not a market for the impatient, it’s not the market for investors necessarily moving in or out, but the business case for the region is very strong.”

DIFC launch its fintech fund in November 2017 during the Global Financial Forum event.

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