DUBAI
Dubai International Financial Centre, DIFC, has signed a Memorandum of Understanding, MoU, with Middle East Venture Partners, MEVP, to facilitate exchange of information on the latest trends in the finance industry, with a focus on the Fintech field, according to statement released on Saturday.
Arif Amiri, Chief Executive Officer of DIFC Authority and Walid Hanna, Founder and Chief Executive Officer of MEVP, signed the MoU to enhance cooperation between DIFC and MEVP and to favourably encourage the development of the region’s venture capital technology ecosystem. The MoU will also enable both entities to work together towards launching initiatives and future regulations that ensure an attractive and competitive investment environment for the region’s technology focused entrepreneurial base.
Commenting on future collaboration between the two entities, Amiri said, “As one of the first Venture Capital Asset Managers licensed by the Dubai Financial Services Authority, MEVP Capital is an important partner for us at DIFC.
“Increased cooperation between both parties will be key in stimulating growth and investment activity in Dubai’s Venture Capital sector,” Amari said. “We are particularly excited that our MoU will also provide a platform for MEVP to explore co-investment and co-management opportunities in relation to DIFC’s US$100 million Fintech fund.”
