UAE – Mubasher: ADQ, an Abu Dhabi-based investment and holding company, is setting up a $200 million fund to invest in early-stage startups, Bloomberg recently reported.
The funding comes in line with the Emirate’s objective to boost its presence in the technology sector.
Backed by the UAE-based fund, Further Ventures will focus on investments in digital assets, fintech, and supply chain.
Meanwhile, the new vehicle will collaborate with founders to provide “capital from pre-seed to growth, product, engineering, design, regulatory support, and market access to teams who want to build lasting technology companies.”
In 2021, ADQ-linked investment vehicle, Abu Dhabi Growth Fund, was inaugurated to invest in private equity, venture capital, hedge funds, and public equities. It also teamed up with artificial intelligence (AI) firm G42 to launch a $10 billion emerging markets tech fund last August.
This September, ADQ monetised an 8.60% stake in Abu Dhabi National Energy Company (TAQA) to Multiply Group, Abu Dhabi Pension Fund (ADPF), and other investors in line with its strategy to create a diversified investment portfolio.