The UAE's ADQ and Jordan's Ministry of Digital Economy and Entrepreneurship Launch US$100 Million Tech FundBuilding on the UAE's strategic industrial partnership with Jordan, ADQ commits to investing in advancing Jordan's core sectors.
You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media.
Abu Dhabi-based investment and holding companyADQhas launched a US$100 million technology-focused venture capital fund with Jordan'sD部igital Economy and Entrepreneurship, to invest in high-growth companies with proven business models and funds primarily focused on Jordan.
With an aim of accelerating the Kingdom's digital economy, the fund will be dedicated to tech startups andinnovation-led companiesin the sectors of information technology, telecommunications, financial services, education, food and agriculture, healthcare and life sciences, mobility and logistics, as well as clean energy technologies.
H.E. Mohamed Hassan Alsuwaidi, Managing Director and CEO of ADQ, said that the fund was established in recognition of the strong potential of Jordan's tech ecosystem. "Jordan's dynamic marketplace offers vast investment potential in sectors where we have significant expertise," he added. "Moreover, we can serve as a committed partner to support their growth. By unlocking access to our growing portfolio of leading companies, we intendto accelerate growthopportunities and market access for companies, entrepreneurs and funds that are at the cutting-edge of technology."
H.E. Ahmad Al Hanandeh, Jordan's Minister of Digital Economy and Entrepreneurship, saidthat the fund is designed to accelerate the transformation of Jordan's digital economy. "ADQ will invest, alongside MoDEE, in high-growth technology companies that will help to create, promote, and drive new digitalopportunities in Jordan, and reinforce our place on the world technology map," he said.
