By creating a new $200 million fund to invest in early-stage businesses, Abu Dhabi, an oil-rich emirate, is stepping up its push into the technology sector. Further Ventures will focus on supply chain, fintech, and digital asset investments, according to a statement. Further Ventures is funded by the sovereign wealth fund ADQ.
The new vehicle will partner with founders and provide “capital from pre-seed to growth, product, engineering, design, regulatory support and market access to teams who want to build lasting technology companies.”
ADQ was set up in 2018 and its portfolio contains some of Abu Dhabi’s most strategic assets across energy, transport and food.
Abu Dhabi Growth Fund, a different ADQ-linked investment vehicle, was launched last year to participate in public equity, hedge funds, private equity, and venture capital. In August, it established a $10 billion developing markets tech fund with the artificial intelligence company G42
