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§ Venture Capital · Global
Shariah-compliant investment firm providing growth capital for technology companies in fintech, blockchain, AI, IoT, and e-commerce in GCC.
Key people at Dubai Cultiv8.
Dubai Cultiv8 is a Shariah-compliant investment firm based in Dubai, United Arab Emirates, that provides growth and expansion capital to early-stage and growth-stage technology companies. The firm focuses on startups operating across sectors such as fintech, blockchain, artificial intelligence, healthcare, and logistics within the Gulf Cooperation Council and broader emerging markets. Operating with $50 million in assets under management, the organization manages the Dubai Cultiv8 Technology Fund LP, which is sized between $5 million and $10 million. The firm has built a portfolio that includes investments in regional enterprises like the legal technology firm Code Engines Software. Led by CEO Arif Mohd Al Alawi and Director David Nataf, the firm also holds licenses to provide asset management, advisory, and consultancy services to support SMEs. Dubai Cultiv8 was founded in 2018 by the Mohammed Bin Rashid Fund for SME.
Key people at Dubai Cultiv8.
Dubai Cultiv8 is a DIFC-based, Shariah-compliant asset management and investment firm focused on innovative sectors such as financial technologies, artificial intelligence, and blockchain. Owned by the Mohammed Bin Rashid Fund for SMEs (MBRF), it aims to provide strategic investment and advisory services that foster growth in emerging tech-driven industries within the GCC region. The firm has a particular emphasis on LegalTech, demonstrated by its investment in Code Engines Software, which offers legal digitization solutions to law firms and corporate legal teams. Dubai Cultiv8’s approach supports startups that address real market needs, helping to accelerate digital transformation in traditionally slow-adopting sectors[1][2][3].
Founded in 2018 under DIFC law No.2 of 2009, Dubai Cultiv8 is wholly owned by MBRF and regulated by the Dubai Financial Services Authority. Its establishment reflects a strategic initiative to channel investment into technology-driven SMEs, particularly those aligned with Shariah principles. Key partners include leadership from MBRF and executives like Arif Al Alawi, CEO of Dubai Cultiv8, who emphasize the firm’s commitment to pioneering investments in LegalTech and other high-growth sectors. Early investments, such as the funding round for Code Engines, have been pivotal in expanding the reach of innovative legal software solutions across the GCC, marking important milestones in the firm’s evolution[2][3][4].
Dubai Cultiv8 rides the wave of digital transformation and fintech innovation sweeping the Middle East, particularly in sectors like LegalTech where technology adoption has been historically slow. The timing is critical as GCC governments and private sectors increasingly prioritize technology-driven efficiency and compliance solutions. By investing in startups that digitize legal and financial services, Dubai Cultiv8 helps accelerate modernization and regulatory compliance, which are key market forces driving demand. Its influence extends to shaping the startup ecosystem by enabling SMEs to access capital and expertise aligned with regional economic diversification goals[2].
Looking ahead, Dubai Cultiv8 is poised to deepen its investments in AI, blockchain, and fintech startups, potentially expanding its portfolio beyond the current three investments. Trends such as increased regulatory digitization, growing demand for Shariah-compliant financial products, and regional economic diversification will shape its trajectory. The firm’s influence is likely to grow as it continues to bridge capital and innovation, supporting startups that transform traditional sectors and contribute to the GCC’s vision for a knowledge-based economy. Its strategic role as a Shariah-compliant investor uniquely positions it to attract a broad base of regional investors and entrepreneurs seeking ethical and innovative growth opportunities[1][2][3].
Dubai Cultiv8 has 2 tracked investments across 1 company. The latest tracked deal is $50.0M Series B in Wahed in June 2022.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Jun 20, 2022 | Wahed | $50.0M Series B | — | CUE Ball Capital, Rasameel |
| Jun 1, 2020 | Wahed | $25.0M Series A | — | BECO Capital, CUE Ball Capital, Rasameel |
