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Dubai Techno Park to sponsor $300m KTIC Jasper Asia Gulf Horizons Fund in Dubai

United Arab Emirates: Sunday, March 09 - 2008 @ 13:57

Dubai Techno Park is managed by DP World.
The basing of the $300m Fund in the Dubai Techno Park will result in approximately 10-15 Asian and European technology companies establishing research, development and commercial operations in Dubai over the next two years.

These companies will be focused in the life sciences, information and telecommunications technology, environmental technology, energy, water and infrastructure, and industrial sectors and are considered essential to Dubai’s long-term technology development plan.

This will also be the largest private equity initiative to be launched in the GCC overall with the aim of driving technology development and commercialization.

Jasper Capital Limited, a financial and fund services company with operations in Dubai, Abu Dhabi and throughout the Gulf region, is the architect behind the design and establishment of the Fund.

The Fund will be managed by Korea Technology Investment Corporation, a veteran private equity management company with 22 years of experience based in Seoul, Korea, including over 100 initial public offerings of Asian technology companies.

“Dubai Techno Park believes the KTIC Jasper Asia Gulf Horizons Fund represents the most innovative private equity approach to regional technology expansion ever seen in the Gulf,” said Hamad Al Hashemi, Dubai Techno Park’s Managing Director. “The combination of Jasper Capital’s longstanding presence in the Gulf coupled with KTIC’s history of successfully growing hundreds of venture and late-stage technology companies will be vital for the Techno Park in achieving our objectives”.

“The ultimate goal of the Fund is to produce high investment returns for investors through savvy acquisitions and profitable growth in the Asian, European and Gulf markets,” said Jonathan Holley, Chief Executive of Jasper Asset Management Limited. “Dubai Techno Park knows that the long-term success of its mission is best served by private investment supporting the development of ambitious, profitable technology companies and we are honored they have sponsored our Fund, which will help to set the stage for creating that result for Dubai”.

The KTIC Jasper Asia Gulf Horizons Fund is currently open for investment.

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Sunday, March 9- 2008 @ 13:57 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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