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The aim of the strategic move is to innovate digitally and to boost the economy. ADQ, one of the largest UAE holding companies, joined Oman Investment Authority (OIA) to launch a technology-focused fund of $180 million. This partnership aims to drive growth, progress, and transformation among the regions.
The key agenda behind the launch of the fund is to invest in technology-focused ventures to excel in digital transformation. This fund aims to revolutionize industries by providing support to SMEs and high-growth companies. This assists in empowering and scaling up the operations to excel in the trending market.
Unveiling the Opportunities
Fund assistance enables entrepreneurs to realize the meaningful impact and vision that will be facilitated by the growth. This partnership will accelerate the emergence of a vibrant technology ecosystem, and increase global competitiveness. As the transformation continues, ADQ and OIA funds boost the progress and unveil opportunities for prosperity and growth.
Launch of $180 million Technology Based Fund
On 23rd April An Abu Dhabi Investment and holding company, ADQ declared the launch of a $180 million technology-based fund. The fund also demonstrates the larger agreement among both parties in the year 2022.
Emirates News Agency (WAM) Outlook
As per the Emirates News Agency (WAM) the fund targets to accelerate the digital economy as well as to broaden the MENA region in the Sultanate. This could be possible by supporting high-production companies like FinTech, CleanTech, agriculture, food, EdTech, and logistics. The main focus is to empower technology-based start-ups and create companies with a focus on innovative technology.
Final Thoughts
The fund will be the pioneer of success in the region. As, in the year 2022, it was identified that the worth of investment opportunities is over $8 million. This partnership also aims to bolster trade and collaboration among both countries. ADQ and OIA are charting success and innovation. Similarly, believes in building a world of limitless technology for generations to come.