announcing its imminent launch of Asiarath Fund, to invest $ 100 Mn USD in growth stage ventures.
Wednesday, 28th September, 2022, Dubai, UAE
Asiarath on Wednesday successfully concluded the Decoding Metaverse and Beyond track, a key side track at the Dubai Metaverse Assembly, and announced the launch of Asiarath.VC, a growth fund dedicatedly deployed for Startups at growth stage working on new age cutting edge technologies creating disruption out of Dubai.
The 4 hour-long event saw huge participation from renowned investors, startups, and industry stalwarts from Dubai and abroad. Mr. Yatin K. Thakur, Founder and Managing Partner, Asiarath, and Ms. Jeeva Bhat, Co-founder of Asiarath, were present during the event. The opening remarks were given by Mr. Yatin K Thakur, where he said “We are excited to be a part of Dubai Metaverse Assembly as we enter a new era of Web3 with a more decentralized world. Asiarath is excited to be working with Web3 startups to support them in their scale up through improvised structures and access to new markets.
Talking about the event, it was equally divided into two insightful panel discussions, starting with a panel discussion on “Demystifying Metaverse & How Would It Impact Our Future?” followed by “Building for Metaverse: Your First Product.” The panel discussion saw the participation of renowned people from the Metaverse community and tech enthusiasts. A reverse pitch session was organized, where more than eight investors participated and spoke about their fund offerings and how startups can leverage the same. It was soon followed by 10 nominated startups from the metaverse and Web3 pitching their ideas in front of the esteemed investors. The startups received huge applause and praise from the investors and the audience present.
The key highlight of the event was the announcement of the Asiarath Fund. Mr. Yatin added, “All processes for the launch of the fund at DIFC are underway for the fund to be operational, and we are looking forward to taking this to new heights.” He also mentioned that the fund would be based out of Dubai International Financial Center (DIFC) with an initial corpus of USD 100 million and would work closely with its partners including Dubai Future Foundation who recently launched the countries first sovereign fund called Dubai Future District Fund (DFDF) in partnership with DIFC Innovation Hub. Partnerships and collaborations are a priority for building a sustainable ecosystem and this collaboration would be making Dubai a hub for Tech innovation and Web3 companies by not only just providing them the access to infrastructure but also equipping them with sufficient capital for growth of their ventures.
Asiarath has already worked and made their mark across the 16 strongest economies of Asia, including the likes of UAE, Singapore, Malaysia, Hongkong, Indonesia and others. The Asiarath Fund will focus on investing in growth-stage technology companies working in AI/ML, blockchain, hardware, IoT, big data, and deep tech, based out of Asia.
The spokesperson from Dubai Future foundation highlighted the need and importance of establishing a dedicated Asia-Arab focused fund to attract resources from around the Asian continent and countries surrounding its periphery to set up their base in Dubai. Hence, by joining hands with Asiarath, we intend to invest in the companies and brains who are really making a difference to the world.