There is good news for all the start-ups in Dubai as the new regional venture capital fund named TURN8 is launched in Dubai. Being the biggest provider of seed capital in the UAE, TURN8 stands for both follow-up funding and seed-funding. It was originally started off to create a culture of innovation in the region in 2013. TURN8 is looking for seed as well as pre-seed level start-ups, says Kamal Hassan, General Partner of the company. The firm plans to target start-ups with a strong client base and the ability to grow to the next level of business. Based on TURN8’s strategy in the MENA region, it aims edtech, mobile cloud, fintech and enterprise cloud solutions.
TURN8 is a joint venture of DP World and Innovation360 and currently focusing on investment, mentorship and further support services. Till date, the company has mentored more than 60 start-ups in the region.