Scalo Technologies, a Singaporean venture capital firm, plans to invest $100 million in promising startups over the next three to five years. The firm has a particular focus on cloud-based AI products and gaming companies but is also interested in other fast-growing sectors and markets with multiple growth potentials over the next five to ten years. Scalo has chosen Dubai as its new headquarters to connect with global startups and guide them into global markets.
The firm expects to invest around half of its $100 million in Middle Eastern and North African tech and AI companies. Scalo is attracted to Dubai's high level of business activity, growing economy, and strong government initiatives aimed at attracting entrepreneurs and professionals worldwide.
Scalo's goal is to make access to best-in-class software and high-performance computing facilities more affordable for the general public, using the cloud. Some of the firm's previous investments include Megarender.com, an online cloud render farm, and Voctiv, a deep tech company that helps businesses worldwide build fully autonomous, AI-powered contact centers.
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