Abu Dhabi Developmental Holding Company (ADQ) has launched a new 1.1 billion dirhams ($299.5 million) venture fund located at Abu Dhabi Global Market (ADGM).
The new fund, Alpha Wave Incubation (AWI) Fund, will target early-stage businesses in India and Southeast Asia to help these start-ups set up global or regional headquarters in Abu Dhabi’s Masdar City.
The fund will also help its companies gain market access to the UAE and to the broader MENA region. The programme will be managed by New York-based Falcon Edge Capital.
ADQ is a holding company headquartered in Abu Dhabi. It holds a diverse portfolio of major enterprises, spanning key sectors of Abu Dhabi’s non-oil economy.
(Writing by Gerard Aoun; editing by Seban Scaria)
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