Abu Dhabi Investment Office (ADIO) has launched a new fund to support the startup ecosystem in the Emirate with a total corpus of 535 million dirhams ($146 million).
The new fund, Ghadan Ventures Fund, will back startups that are based in Abu Dhabi and venture capital that want to establish themselves there.
As part of the deal, the commitments will be made via Ghadan Ventures Fund's two programs called Startup Matching Fund and New Managers Fund.
Additionally, ADIO intends to allocate between $2.72 million to $5.44 million per fund and will also consider exception on a case by case basis.