The Mubadala-backed Abu Dhabi Catalyst Partners (ADCP) has invested in a US-based technology-focused private equity firm, specialising in Enterprise Software and Gaming.

Investment firm ADCP, a $1.65 billion joint venture between Abu Dhabi sovereign investor Mubadala Capital and Florida-headquartered investment company Alpha Wave Global, has partnered with Haveli Investments to fund the company’s enterprise software strategy.

As part of the deal, Haveli, which entered a partnership with the NYSE-listed alternative asset managers Apollo in 2022, will scale its operations in the GCC by opening its first office outside of North America in the Abu Dhabi Global Market (ADGM), enabled by ADCP’s investment.

The office will host a team of software and gaming investment and operating professionals in Abu Dhabi, helping to expand its global reach and presence.

“The enterprise software sector is a nearly $1 trillion global industry growing at four times the speed of GDP, making the Haveli team, with its wealth of experience and strong track record of investing in enterprise software at leading global institutions, an ideal partner for ADCP,” said Fatima Al Noaimi, Co-Head of Solutions at ADCP.

The partnership also capitalises on the UAE’s burgeoning gaming sector which has experienced a growing influx of game developers and esports teams since the launch of the ADGaming initiative by the Abu Dhabi government in 2021.

(Writing by Bindu Rai, editing by Seban Scaria)