start up
The Abu Dhabi firm Further will deploy up to $200 million in startups, joining as the institutional co-founder. Image Credit: Pexels

Dubai: Planning a startup? But short on funds to get it off the ground? A new fund in Abu Dhabi may be able to help out.

Further – which is the name of the firm – will help entrepreneurs by coming on board as an institutional co-founder, helping the venture from ‘ideation to exit’. Further has launched a $200 million fund that will help startups in the fintech, supply chain and digital assets space. It is backed by Abu Dhabi’s investment giant ADQ.

Further’s funds can be tapped by entrepreneurs for concept development. Or for seed capital to take the venture to Series A funding capability. There could also be ‘reserved capital’ for follow up multiple rounds of funding.

And ‘beyond capital investment, Further has a dedicated team that provides legal and regulatory support, talent sourcing and recruitment, operations, and business development expertise’.

Eligible startups

● Digital Assets – Ventures with digital asset payments products, blockchain asset custody and security solutions, marketplaces, wallets and other infrastructure for institutions.

● Fintech – Wealth management, SME finance, financial inclusion, remittance, and payroll products benefiting from Further’s experience in launching regulated financial institutions in global markets.

● Supply chain - Digital freight and warehouse management companies and other supply chain-related business ‘benefiting from Further’s extensive ties to ADQ’s broad portfolio that includes major international retailers, port operators and airlines’.

There will also be a 'Further Network', which will invest in and co-create startups with global venture builders.

ADQ's reach
Launched in 2018, ADQ is an Abu Dhabi-based investment and holding company, with ownership of some of the biggest entities in the UAE. These include Abu Dhabi Airport, Etihad Rail, AD Ports Group, and utility major TAQA.

In the recent past, ADQ has also been directing its funding resources outside of the UAE.