Directi Aiming To Raise Up To $100m For gTLD Applications

A subsidiary of Directi Group, who applied for 31 gTLDs, is looking to raise up to $100 million to fund its registry operator business.

In an interview with Techcircle.in, Bhavin Turakhia, founder and CEO of Directi said the plan to raise $50-100m through its Dubai-headquartered subsidiary Radix FZC would be used to get the gTLDs it has applied for up and running.

“There is going to be an auction for those top-level domains sometime next year, and while we have our own reserves to participate in the auction, we may add to our reserves by raising additional funds,” Turakhia said. “We haven’t decided on the exact amount but it will lie in the $50-100 million range.”