du set aside USD 50 mn for startups through new Shorooq-managed fund

du is putting USD 50 mn behind its startup ambitions, launching a new corporate venture fund with Mubadala-backed venture capital firm Shorooq, according to a press release (pdf). The fund will back startups working across areas including AI, fintech, cybersecurity, cloud services, gaming, enterprise software, and customer experience technology.

The move gives the telecom operator a direct route into emerging technologies as well as companies that could eventually feed into its broader digital ecosystem. Shorooq will manage the fund and oversee investments, with a significant share of capital earmarked for UAE-based startups, while giving founders access to du’s infrastructure, customer base, and market reach.

The firm intends to build the portfolio “with discipline rather than to a quota,” focusing on startups that can meaningfully support du’s strategy, Shorooq Founding Partner Shane Shin told EnterpriseAM UAE. “We'll be active in the market from launch, and we'll move at the pace the right opportunities allow,” he adds.

Strategic fit comes first: Shin said startups will be assessed through Shorooq’s standard sourcing and due diligence process, but with an additional filter of whether the company strengthens du’s ecosystem or advances its digital ambitions.

The focus is on solving problems tied to du’s business. Shin said the common thread is startups turning new technologies into practical applications that can connect with du’s infrastructure.

What startups get beyond funding: Portfolio companies will also gain access to du’s distribution channels, enterprise relationships, and customer reach, Shin says.