Raiven Capital has selected the Maples Group as its fund administrator for its new venture capital fund, based in the Dubai International Financial Centre.
Raiven Capital, a global, early-stage technology venture capital firm operating from Toronto, California's Silicon Valley and its newly announced office in Dubai, has selected Maples Group to provide comprehensive fund administration services for its new venture capital fund ("the Fund").
The Dubai International Financial Centre ("DIFC")-based Fund connects entrepreneurs located in the Gulf Cooperation Council ("GCC") states, North and East Africa and South Asia to global innovation ecosystems. The Fund is seeking founders creating solutions using artificial intelligence, ("AI"), Internet of Things ("IoT"), and distributed ledger technology ("DLT") in sectors including cybersecurity, finance, energy, health, environment, and foods. The Fund's target size is US$125 million.
The Maples Group was selected as the fund administrator because of its reputation for delivering excellent client service, as well as its significant presence in the region and extensive footprint around the globe. "With its youthful population, vibrant tech culture and prime location, Dubai is a nexus for innovation and financial investment from across the globe," says Fred Tabbal, Regional Head of Fund Services – Middle East, Maples Group. "With the launch of the Fund, Raiven Capital, with origins in Canada, a footprint in Silicon Valley and a new presence in Dubai, speaks to the worldwide appeal of the DIFC as a hub for tech finance."
"Raiven Capital is delighted to partner with the Maples Group and has strong confidence in their Dubai-based team," says Raiven Capital General Partner and CEO Supreet Manchanda.
"The team has already brought invaluable insight and expertise in providing services to help us position the Fund for success."
Supreet Manchanda
Raiven Capital General Partner and CEO