ADQ brings venture capital initiatives under DisruptAD platform
09 Mar 2021
Abu Dhabi's holding company and owner of its ports and free zone - is bringing together all of its venture capital initiatives under the DisruptAD platform.
DisruptAD’s activities will include investments in startups and venture capital funds, as well as the creation of new incubators and accelerators to support "Abu Dhabi’s evolution as a global startup destination".
DisruptAD will be responsible for the Alpha Wave Incubation (AWI) Fund - the Dh1.1 billion venture fund that focuses on Indian and Southeast Asian startups, and will manage the Dh535 million Ventures Fund, a flagship initiative of Abu Dhabi's Ghadan 21 programme.
DisruptAD aims to support and nurture over 1,000 start-ups over the next five years to "create a thriving local community of founders, fund managers, incubators and accelerators".
Beyond the UAE, DisruptAD will target innovators within the Middle East and North Africa region, India, China, South East Asia and the US. The platform will partner with companies and funds that can benefit from ADQ’s commitment to the development of clusters, including healthcare and pharma, agriculture, logistics, energy and utilities.
“There is clear demand for pioneering ideas and entrepreneurs who can respond to some of society’s most pressing challenges with impactful future-focused solutions," said Mansour AlMulla, Chief Investment Officer, Alternative Investments and Mergers & Acquisitions, ADQ.
"We are actively deploying capital into innovative businesses locally and globally, providing the strategic and technical expertise needed to transform ideas into fully fledged sustainable businesses that will make a valuable contribution to the UAE.”
Source: Gulf News