$145m to boost the Abu Dhabi Climate Initiative

Currently, UAE started a great initiative to support the growth of the ecosystem and better wellbeing the capital Office announced on Tuesday that it has opened the AED535 million ($145.6 million) Ghadan Ventures this programme to initiate the emirate’s increasing venture capital and start-up with the ecosystem.

This is part of Governments Ghadan 21 which is to boost Abu Dhabi fund that organised by ADIO, is part of the government’s Ghadan 21 programme that is working to accelerate Abu Dhabi’s economy.

The two key programmes that have been designed by the Ghadan Ventures Fund to increase the availability of capital for Abu Dhabi based start-ups, as well as serve as a catalyst for new fund managers seeking to establish start-up Equivalent Trust will work to arouse Abu Dhabi’s entrepreneurial landscape by increasing the amount of capital available for seed and early stage companies.

As part of the initiative, ADIO will match a start-up’s lead VC investment dirham for dirham, up to AED10 million for seed rounds, and AED50 million for Series ‘A’ per round.

UAE government now trying to grow the number of VC assets functional in the emirate, ADIO has also launched the New Managers Fund under which newly formed Abu Dhabi-based VCs can apply for fund matching, based on Fund collected in the private market.

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