23
March
2022

ADQ and Türkiye Wealth Fund launch US$300 million venture capital fund to develop high-growth companies in Türkiye

Highlights

  • Türkiye Technology Fund – ADQ TWF is part of the UAE’s commitment to investing in Türkiye


ADQ, an Abu Dhabi-based investment and holding company, and Türkiye Wealth Fund (TWF) today launched Türkiye Technology Fund – ADQ TWF, which will invest in venture capital funds and high-growth potential companies in Türkiye.

Building on the UAE’s platform to support strategic investments in Türkiye, Türkiye Technology Fund – ADQ TWF was launched byH.E. Mohamed Hassan Alsuwaidi, Managing Director and Chief Executive Officer of ADQ, and Arda Ermut, Chief Executive Officer and Board Member of TWF.

ADQ and TWF established the Fund to undertake investments in high-growth, Turkish start-ups with innovative business models. Türkiye Technology Fund – ADQ TWF will invest in companies developing emerging technologies or improving existing technologies in significant sectors such as energy and utilities, healthcare and life sciences, food and agriculture, mobility and logistics, financial services, and education.

Launching Türkiye Technology Fund – ADQ TWF builds on the broader commitment to investing in the future growth of Türkiye we made in late 2021 as the UAE and Türkiye continue to advance bilateral trade and investment. Türkiye is an attractive market with substantial opportunities for investing in vital sectors that align with our areas of expertise. By providing access to the national and regional champions in our portfolio, we will help to unlock even greater value for these companies and funds with high-growth potential.

H.E. Mohamed Hassan Alsuwaidi, Managing Director and Chief Executive Officer of ADQ

Türkiye has grown significantly in its technology ecosystem over the last few years. We believe Türkiye Technology Fund – ADQ TWF will give ADQ and TWF access to a pipeline of compelling investment opportunities specialized in next-generation technologies that will contribute to the strategic growth of Türkiye’s economy and ultimately reinforce bilateral cooperation between both our nations.

Arda Ermut, Chief Executive Officer and Board Member at TWF

This fund marks the first step taken by the TWF as part of its vision to build a broader US$1 billion technology platform, to become the reference technology fund accelerating technological growth in Türkiye and driving growth in strategic technological sectors critical to Türkiye’s development. Compared to similar funds in Türkiye, the Türkiye Technology Fund will create a unique added value for our country with its volume and international direct investment dimension and the multiplier effect it will provide for other technology investments.

Mr. Ermut

In late 2021, the Turkish VC ecosystem reached its highest ever quarterly, half-yearly and yearly level of capital raised by local start-ups, which also accounted for 30 percent of all VC transactions closed and more than half of all capital deployed into start-ups across the Middle East and North Africa (MENA), Türkiye, and Pakistan.

About ADQ

Established in 2018, ADQ is an Abu Dhabi-based investment and holding company with a broad portfolio of major enterprises. Its investments span key sectors of the UAE’s diversified economy including energy and utilities, food and agriculture, healthcare and life sciences, and mobility and logistics, amongst others. As a strategic partner of Abu Dhabi’s government, ADQ is committed to accelerating the transformation of the Emirate into a globally competitive and knowledge-based economy.

For more information, visit adq.ae or write to media@adq.ae. You can also follow ADQ on X, Instagram and LinkedIn.

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