Scalo Technologies, a venture capital business with offices in Singapore, has relocated to Dubai with plans to invest $100 million in promising entrepreneurs in the coming years.
Abdumalik Mirakhmedov, Director and co-founder of Scalo Technologies, confirmed this in a press release seen by Ripples Nigeria on Wednesday.
Scalo Technologies noted that it seeks to benefit from Dubai’s high level of business activity, growing economy, and strong government initiatives to attract entrepreneurs and professionals from across the globe.
“Dubai is at the heart of the MENA region, which is actively growing, and provides us with many outstanding investment opportunities,” said Mirakhmedov,
In the next three to five years, Scalo is expected to identify UAE-based and MENA-based founders, as well as invest $100 million in promising businesses.
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