Up to AED535M ($145.6M) is available from Ghadan Ventures Fund to support the emirate’s growing venture capital and start-up ecosystem.

 

Ghadan Ventures Fund

Ghadan Ventures Fund is part of the government’s Ghadan 21 program that is working to accelerate Abu Dhabi’s economy and build a dynamic and thriving entrepreneurial culture.

 

Background

The Abu Dhabi Investment Office, ADIO, has launched the Ghadan Ventures Fund to grow Abu Dhabi’s Venture Capital, VC, and start-up ecosystem.

The fund has two key programs designed to increase the availability of capital for Abu Dhabi based startups, as well as serve as a catalyst for new fund managers seeking to establish themselves in the capital:

  • New Managers Fund has been established to stimulate growth in the Abu Dhabi Venture Capital ecosystem. The fund will back new VC funds to establish in Abu Dhabi and thereby expand the sources of early stage funding available for start ups in the region.
  • Start-Up Matching Fund has been developed to invest in innovative seed and early-stage start-ups based in Abu Dhabi. The fund is helping to create more sources of funding for early stage companies and stimulating Abu Dhabi’s VC ecosystem.

 

Funding

New Managers Fund

Abu Dhabi based funds that meet the below criteria can apply to GV for commitment matching based on the amounts they raise in the private market. This means that for every AED 1 the New Fund Manager raises, ADIO will allocate an additional AED 1. ADIO will typically allocate between AED 10Mn and AED 20Mn per fund but will consider exceptions on a case by case basis.

Start-Up Matching Fund

The fund will match a start-up’s lead VC Investor’s terms and commitment amount. This means that for every AED 1 the lead VC commits, ADIO will invest an additional AED 1, up to AED 10Mn for seed rounds, and AED 50Mn for Series ‘A’, per round.

 

Eligibility

New VC Fund Managers should meet the following criteria:

  • Funding Sources: ability to raise third party funds from the private sector for GV to then match
  • Investment Experience: established track record leading investments in institutional or other contexts
  • Location: Abu Dhabi in ADGM/Hub71 to ensure proximity to start-ups
  • Proven Track Record: 2+ years raising and managing third party funds is an advantage

Start-ups interest in applying for funding should meet the following criteria:

  • Seed funding: typical ticket size between AED 5Mn and AED 10Mn
  • Series ‘A’ funding: ticket size up to AED 50Mn (larger sizes will be considered on a case by case basis).
  • Start-up Location: wholly based in Abu Dhabi

 

More Information

  • Source
  • Ghadan Ventures Fund – New Managers Fund
  • Ghadan Ventures Fund – Start-Up Matching Fund