ADQ, an Abu Dhabi based holding company launches $300M venture fund for early-stage bets

ADQ, the state-owned holding company for Abu Dhabi’s non-oil sectors, launched a $300 mn venture capital fund, which will look to make early stage investments across India and South-East Asia.

AWI Fund will be located at Abu Dhabi Global Market, the international financial centre in the United Arab Emirates’ capital, and will be managed by New York-based investment firm Falcon Edge Capital, according to a statement by ADQ on Wednesday.

Additionally, the AWI Fund will assist its portfolio companies in setting up their global or regional headquarters in Abu Dhabi’s Masdar City, which will allow them to utilise the digital infrastructure in place, along with “highly advanced regulatory frameworks” and other research and development initiatives.

“Alpha Wave Incubation Fund will further encourage Abu Dhabi’s culture of entrepreneurship and help to promote its emerging position as a global innovation hub, in line with the Ghadan 21 accelerator programme’s investment in Abu Dhabi’s economy, knowledge system and communities," Mohammed Hassan Al Suwaidi, chief executive of ADQ, said.

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