ADQ, Turkey’s TWF launch $300mn tech fund to back high-growth startups

ADQ, Turkey’s TWF launch $300mn tech fund to back high-growth startups

ADQ, an Abu Dhabi-based investment and holding company, and Turkey Wealth Fund (TWF), the sovereign wealth fund of Turkey, have launched $300 million worth ‘Turkey Technology Fund-ADQ TWF’, which will invest in venture capital (VC) funds and high-growth potential companies in Turkey.

Established to undertake investments in high-growth, Turkish startups with innovative business models, the ‘Turkey Technology Fund – ADQ TWF’ will invest in companies developing emerging technologies or improving existing technologies in significant sectors like energy and utilities, healthcare and life sciences, food and agriculture, mobility and logistics, financial services, and education.

Building on the UAE’s platform to support strategic investments in Turkey, the new fund was launched by Mr. Mohamed Hassan Al Suwaidi, Managing Director and Chief Executive Officer of ADQ, and Mr. Arda Ermut, Chief Executive Officer and Board Member of TWF.

Mohamed Hassan Al Suwaidi

MD & CEO – ADQ “Launching Turkey Technology Fund–ADQ TWF builds on the broader commitment to investing in the future growth of Turkey we made in late 2021 as the UAE and Turkey 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