ADQ, Turkey Wealth Fund Launch $300m Venture Capital Fund

ADQ, Turkey Wealth Fund Launch $300m Venture Capital Fund

ADQ, an Abu Dhabi-based investment and holding company, and Turkey Wealth Fund (TWF) launched Wednesday a $300 million-tech fund, which will invest in venture capital funds and high-growth potential companies in Turkey.

Turkey 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.

Mohamed Hassan al-Suwaidi, the Managing Director and CEO of ADQ, said that launching the fund builds on the broader commitment to investing in the future growth of Turkey the UAE made in late 2021 as both countries continue to advance bilateral trade and investment.

“Turkey 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 UAE’s portfolio, ADQ will help to unlock even greater value for these companies and funds with high-growth potential, he added.

For his part, Arda Ermut, the CEO and Board Member of TWF, said Turkey has grown significantly in its technology ecosystem over the last few years.

“We believe Turkey Technology Fund – ADQ TWF will give ADQ and TWF access to