UAE - Mubasher: ADQ, Abu Dhabi-based holding company, has launched DisruptAD platform to promote its venture capital, according to a press release on Tuesday.
The platform will invest in startups and venture capital funds and create new accelerators to help Abu Dhabi to become a global startup hub and develop its innovation ecosystem.
DisruptAD seeks to support more than 1,000 startups over the next five years and target global innovators in other countries, including the Middle East and North Africa region, India, China, South East Asia, and the US.
In addition, the platform will be responsible for the Alpha Wave Incubation (AWI) Fund, the AED 1.1 billion venture fund enabling Indian and South-East Asian startups, and will manage the AED 535 million Ventures Fund, an initiative in the Ghadan 21 programme.
The Head of Venture Capital and Technology at ADQ, Mayank Singhal, said: "Not only are we deepening the pool of capital for start-ups, but we are also bridging the talent gap by inviting top-tier founders and young innovators to Abu Dhabi."
