Venture Capital Firm Next Orbit Ventures Received Commitment of $750 Million From UAE Investors
Venture capital firm Next Orbit Ventures (NOV) has received commitment from UAE-based investors, including DP World, Emmar and Etisalat, for its over USD 750 million or Rs 5,000 crore fund. The company plans to invest the proceeds of the over Rs 5,000 crore (USD 750 million) fund in digital, analog and solar fabrication (fabs) projects along with semiconductor design, electronics, led and solar products to feed those fabs, a statement said today.
"The investors from UAE International Investors Council which includes 18 UAE entities like Mubadala, DP World, Etisalat, Emmar, among others have shown keen interest in investing in this fund and the project," company's founder and Managing Partner Ajay Jalan said.
Nearly 49 per cent of the commitment towards the fund is expected from the C...