Abu Dhabi Investment Office invests $16.3 million in several startups
The Abu Dhabi Investment Office (ADIO) today announced AED 60 million of investment in the latest batch of startups and fund managers applying to its Ventures Fund. The recipients, Securrency, TruKKer, Sarwa, YACOB and Okadoc, are innovation-focused companies that are either based in Abu Dhabi or expanding into the emirate. ADIO also signed its first investment in a venture capital firm, UAE based Global Ventures.
ADIO’s Ventures Fund opened in May 2019, as an initiative of the Abu Dhabi Government’s Ghadan 21 accelerator programme. The fund is supporting the growth of Abu Dhabi’s startup and venture capital ecosystem by increasing access to capital and stimulating the number of high skilled jobs in the UAE capital’s growing technology sector.