ADQ launches $300mn fund for start-ups in India, Southeast Asia
The Abu Dhabi based company will help start-ups to set up global or regional headquarters in Masdar City.
ADQ, formerly Abu Dhabi Development Holding Company, launched a new venture fund, Alpha Wave Incubation Fund, worth $300 million to invest in early-stage businesses in India and Southeast Asia. Alpha Wave Incubation Fund, located at Abu Dhabi Global Market, will help start-ups to set up global or reginal headquarters in Abu Dhabi’s Masdar City.
Mohammed Hassan Alsuwaidi, CEO, ADQ, said: “The fund will invest in new companies that are pioneering cutting-edge technologies and developing new and innovative businesses models.”
The venture fund, managed by New York based Falcon Edge capital, will also provide businesses to access to the UAE and the broader Middle East and North Africa region.
Mayank Singhal, Venture Capital and Technology – Head, ADQ, added, “The companies the fund invests in will also benefit from access to ADQ’s leading companies in sectors such as healthcare, food and agri-business, utilities and fintech.”