Abu Dhabi's ADIO invests $16.3m in start-ups, fund managers

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The Abu Dhabi Investment Office (ADIO) has announced AED60 million ($16.3 million) of investment in a batch of start-ups 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 said it has also signed its first investment in a venture capital firm, UAE-based Global Ventures. ADIO’s Ventures Fund opened in May as an initiative of the Abu Dhabi Government’s Ghadan 21 accelerator programme and is supporting the growth of Abu Dhabi’s start-up and venture capital ecosystem by increasing access to capital.

Source:https://www.arabianbusiness.com/banking-finance/438513-abu-dhabis-adio-invests-163m-in-start-ups-fund-managers


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