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11-01-21
Abu Dhabi Ventures announces its first close of its early-stage venture capital fund
(MENAFN)The first close of its early-stage venture capital fund, with famous Saudi names mentioned amid the investors, was proclaimed by Abu Dhabi-based Access Bridge Ventures (ABV).
The fund is aiming a final goal of over USD25 million. ABV manages to utilize it to support high-growth tech startups from Saudi Arabia, the UAE, Egypt, Pakistan and the wider Middle East region.
It declared commitments from regional institutional investors such as Mubadala Capital, the financial investment arm of the UAE’s Mubadala Investment Company, the Saudi Venture Capital Company (SVC) and Jada, which was systemized by the Public Investment Fund in 2019 to spotlight on investments in small and medium-sized enterprises (SMEs).
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