Using a combination of equity investments and incentives, ADQ and ADIO aim to create winning propositions for companies and provide opportunities to avail Abu Dhabi’s digital infrastructure, regulatory framework, and R&D initiatives. Under this structure, the ADQ will help drive equity investments in early-stage firms as well as in venture capital funds, while the ADIO will be responsible for managing incentives and other forms of support to the companies.
The collaboration also includes the transfer of Ventures Fund, a flagship Ghadan 21 initiative, to ADQ’s venture capital program which focuses on making equity and fund investments in global startups and VC firms to help evolve Abu Dhabi’s technology ecosystem. The AED535 million fund, which was launched by the three-year Ghadan 21 program, was envisioned by HH Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of the Abu Dhabi Executive Council, in 2019 to focus on economy, knowledge and community. The Ventures Fund primarily invests in startups and VC funds that help steer Abu Dhabi’s innovation efforts.
“Since launching the Ventures Fund in May 2019 as part of the Ghadan 21 program, we have firmly established it as an instrument that is helping increase access to capital for startups in Abu Dhabi. With ADIO and ADQ working together, innovative early-stage companies will now have new opportunities as well as access to the capital and networks they need to realize their ambitions in the emirate and internationally,” said H.E. Dr. Tariq Bin Hendi, Director General of ADIO.