The Ventures Fund, launched as part of the Ghadan 21 initiative, has so far invested Dh200 million in early growth stage companies in Abu Dhabi. Image Credit: Shutterstock

Abu Dhabi: Abu Dhabi Investment Office is transferring its Dh535 Ventures Fund to ADQ (formerly Abu Dhabi Developmental Holding Company). The fund will now be part of ADQ’s broader venture capital programme, which aims to fund investments in global startups and venture capital firms.

To date, the Ventures Fund has committed Dh200 million to more than 15 companies, supporting early-stage companies in Abu Dhabi. (The Ventures Fund was set up through Ghadan 21.)

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The initiative is aimed at boosting the Abu Dhabi’s digital economy and startup ecosystem, as the emirate looks to increase its attractiveness for businesses and funds. “Innovative early-stage companies will now have new opportunities as well as access to the capital and networks they need to realise their ambitions in the emirate and internationally,” said Dr. Tariq Bin Hendi, Director-General of ADIO.

ADQ and ADIO will also create propositions for companies using equity investments and other incentives. ADQ will take charge of driving equity investments for early-stage companies and venture capital funds, with ADIO overseeing the management of the incentives on offer.