Dubai focuses on pre-IPO stage for startups

Dubai focuses on pre-IPO stage for startups

Dubai Financial Market (DFM) is focusing on supporting startups in the pre-initial public offering (IPO) stage to raise capital and connect them with potential investors, CEO Hamed Ali has said. “Diversifying the investor base is one of the top priorities for DFM,” Ali was quoted as saying in an interview with the UAE state-owned Wam […]Dubai Financial Market (DFM) is focusing on supporting startups in the pre-initial public offering (IPO) stage to raise capital and connect them with potential investors, CEO Hamed Ali has said.

“Diversifying the investor base is one of the top priorities for DFM,” Ali was quoted as saying in an interview with the UAE state-owned Wam news agency. 

The DFM is actively looking to expand beyond established companies, focusing on startups and adding new sectors, he added. 

Venture capital funding in the UAE declined 45 percent year on year to $691 million, Magnitt said in its Mena Venture Investment Summary for 2023. However, the Gulf state was still the region’s top destination for deals, which reached 158 last year.

The DFM launched Arena, a platform for initial private offerings, which includes private companies, family conglomerates, small and medium enterprises, and businesses at various growth stages. 

The platform will allow companies to access capital through diverse