ADIO announce Dh60 million of investments in start ups
Ventures fund opened in May 2019 as part of Abu Dhabi’s Ghadan 21 accelerator programme
Abu Dhabi: The Abu Dhabi Investment Office (ADIO) on Wednesday announced investments totalling Dh60 million for start-ups and fund managers applying to its ventures fund.
The ventures fund was opened in May 2019 as part of Abu Dhabi Governmnet’s Ghadan 21 accelerator programme, with an aim of supporting start-ups in the emirate and strengthening the UAE’s technology sector.
“The ventures fund was created to deepen Abu Dhabi’s innovation ecosystem and ensure big thinking is not constrained by limited capital,” said Dr Tariq Bin Hendi, director-general of ADIO.
“Once a start-up is operational, Abu Dhabi is safe ground for innovation and a place where entrepreneurs can confidently take commercial and creative risks. ADIO is passionate about supporting entrepreneurs, we want to give start-ups the opportunity to become the next regional, or perhaps even global, tech success story,” he added.
The companies that have received investments include Securrency, TruKKer, Sarwa, YACOB and Okado.