Ixia Capital Eyes UAE iGaming Boom with $20m Fund

New VC Fund Ixia Capital Eyes Bright Future for iGaming in the UAE

Seizing the Future: Ixia Capital Ventures into UAE’s Emerging iGaming Market

The United Arab Emirates (UAE) is on the cusp of a significant transformation in the gambling industry, presenting a golden opportunity for innovative startups. At the forefront of this revolution is Ixia Capital, a new venture capital (VC) fund eager to tap into the promising future of iGaming in the UAE. With a robust $20 million fund, Ixia Capital aims to foster the growth of high-potential gambling companies, focusing on the rapidly developing UAE market.

A Strategic Move into a Promising Market

Ixia Capital, led by CEO and venture partner Mona Motwani, is set to leverage the anticipated regulatory changes in the UAE. In September, the establishment of the General Commercial Gaming Regulatory Authority (GCGRA) marked a pivotal step towards creating a regulatory framework for national lottery and commercial gaming in the region. This development signals a bright future for legal gambling in the UAE, a sentiment echoed by Motwani.

“While the specifics of the regulations are still emerging, the UAE is one of the most promising regions for iGaming. Operators are gearing up, and the future of gambling here is indeed very bright,” Motwani shared with iGB.

Focused on High-Growth Startups

Ixia Capital’s fund will primarily target seed to Series A stage startups in the online gaming, web3, crypto, and blockchain spaces. The fund plans to launch over 25 startups in the next five years, with a particular focus on the UAE, India, and Africa—regions where Ixia’s team holds core expertise.

“Our initial phase focuses on the UAE, India, and Africa due to our deep-rooted experience in these markets,” Motwani explained. This strategic focus aligns with Ixia Capital’s vision to nurture innovative startups that can thrive under the emerging regulatory frameworks and market dynamics.

Expertise Driving the Vision

The leadership at Ixia Capital boasts a wealth of experience in both gaming and venture capital. Mona Motwani, with her extensive background at Sportradar, leads the team. She is joined by Tyler Dean, an expert in VC fund management in the US, Imran Bukhari, a tech development veteran from Bet365, and Biren Gala, with a decade of private equity experience at Mayfair Equity Advisory in the UK.

Diverse Investment Portfolio

Ixia Capital is not just about funding; it’s about fostering innovation. Through its US-based venture studio arm, Ixia Studio, the fund has already made significant strides. Ixia Studio is involved in launching a variety of projects, including FasFas Games, a Sports NFT Trading Exchange, a gaming loyalty rewards platform, a sports investment thought leadership platform, and a sports coverage and games engagement app.

“We are excited to explore unique projects that combine elements of esports, gaming, web3, crypto, and blockchain,” Motwani noted.

Regulatory Landscape in the UAE

The UAE is expected to introduce regulated gaming in the near term, according to a report by CBRE. The report anticipates that legislative changes will pave the way for a well-regulated online gaming environment, cleaning up the current access to illegal or gray market providers.

“Decriminalization of gaming will likely take the form of a federal decree or legislative changes to the criminal and penal code. Given the increase in activity in the region, we anticipate these legislative changes to be forthcoming in the next few months,” the report stated.

Major Developments on the Horizon

Among the notable developments in the UAE’s gaming sector is Wynn Resorts’ plan to open an integrated resort in Ras Al Khaimah by 2027. This project highlights the potential for significant growth and investment in the region’s gaming industry.

Conclusion

Ixia Capital is strategically positioned to capitalize on the burgeoning opportunities in the UAE’s iGaming sector. With a substantial fund, a focus on high-growth startups, and a team of seasoned experts, Ixia Capital is set to play a pivotal role in shaping the future of online gaming in the UAE and beyond. As regulatory frameworks solidify, the stage is set for a new era of legal and innovative gambling ventures.