The state investor will also assess opportunities to act as the lead investor/Bloombergby Kudakwashe Muzoriwa
The Abu Dhabi Investment Office (ADIO) expanded the scope of its Ventures Fund to increase support for the growth and expansion of innovation-focused companies in the emirate.
The Ventures Fund will now participate in Series B and beyond financing rounds, invest in established regional and global funds and collaborate with global accelerators. The Series B investment amount is defined by the start-up itself and varies from one company to another.
Dr. Tariq Bin Hendi, the Director-General of ADIO, said, “The Ventures Fund is actively supporting Abu Dhabi’s innovation ecosystem and attracting high skilled talent to Abu Dhabi.”
ADIO stated that the AED 535 million fund works to increase access to capital for start-ups and to date, the investment vehicle has deployed capital through matching programmes for new fund managers and early-stage start-ups.
Established in 2019, ADIO has expanded the parameters of the fund to include investment in later-stage companies in a bid to support later-stage companies that are in expansion mode and ready to scale.
Furthermore, in addition to funding, ADIO will also create bespoke incentive packages, underpinned by its investor care services, to support the continued growth of these companies in Abu Dhabi. The state investor will also assess opportunities to act as the lead investor.
The Ventures Fund is also expanding its support for funds beyond new fund managers. ADIO will now invest as a limited partner through established global funds that are investing in innovation-focused companies in the MENA region and through collaboration with global accelerators.
“An expanded, more flexible and efficient Ventures Fund will ensure more companies can make the most of the opportunity to innovate and grow in Abu Dhabi,” said Bin Hendi.
Recently, ADIO invested in innovation-focused companies Securrency, TruKKer as well as Sarwa, YACOB, Okadoc and UAE-based venture capital firm, Global Ventures through its Ventures Fund.