ADQ Holding has announced the launch of a new project fund called Alfa Wave Investment Fund worth AED 1.1 billion in the Abu Dhabi Global Market.
According to the Emirates News Agency, the AWF / AWI is targeting investment in companies that are still in the early stages of establishment in India and Southeast Asia by providing support to them. To establish global or regional headquarters in the city of Masdar, Abu Dhabi Emirate.
Through their presence in Abu Dhabi, these companies will be able to take advantage of the advantages enjoyed by the emirate, including the exceptional digital infrastructure, advanced regulatory frameworks and various research and development initiatives. < / p>
The fund provides companies operating under its umbrella the opportunity to enter the markets of the United Arab Emirates and the Middle East and North Africa region on a larger scale .. It is scheduled that Falcon Edge Capital will take over , New York-based, program management.
His Excellency Mohamed Hassan Al Suwaidi, CEO of Holding / ADQ /: From our position as one of the leading national companies for the Abu Dhabi government, we are keen to consolidate the culture of performance in the corporate portfolio Our subsidiary, which includes a number of the most important strategic commercial companies at the level of Abu Dhabi .. We aim to enhance value and achieve a long-term impact on society and we will do so in a pioneering role by investing in new companies that adopt the latest technologies and develop modern and innovative business models .
He added that supporting a system for emerging companies in the Emirate of Abu Dhabi would attract distinguished talents from entrepreneurs, and provide jobs and various opportunities, especially for cadres working in the fields of data science AI, and other knowledge-based industries.
The Alfa Wave Inclusion / AWI / fund will contribute to promoting the culture of entrepreneurship in the Emirate of Abu Dhabi and stimulate the emirate's position as a promising global center for innovation, in line with the tomorrow 21 program that targets Developing the economy of the Emirate of Abu Dhabi, its knowledge system, and its society.
Mayank Singhal, Head of Venture Capital and Technology Unit, Holding / ADQ / said: With the launch of the Alfa Wave Inc / AWI / Fund, we will have access to The opportunity to invest in startups with outstanding performance that will achieve sustainable financial returns in the long run, with the ability at the same time to attract the founders of companies and young cadres to reside and work in the Emirate of Abu Dhabi .. And we will seek through the fund to support them in a way that enables them to develop, and preparing the way to find Distinguished new talents in technology ..
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