Home UAE Abu Dhabi Abu Dhabi’s ADQ, Jordan’s Ministry of Digital Economy and Entrepreneurship launch $100m tech fund The fund will be dedicated to tech startups and companies specialised in sectors such as telecommunications, financial services and education, among others by Zainab Mansoor June 9, 2022 Abu Dhabi-based holding company ADQ has announced the launch of a $100m technology-focused venture capital fund with the Ministry of Digital Economy and Entrepreneurship (MoDEE) of Jordan. The fund aims to support high-growth technology companies and the growth of the kingdom’s digital economy. It will invest in high-growth companies with proven business models, as well as funds primarily focused on Jordan. We launched a $100 million technology-focused venture capital fund with @ModeeJo to support high-growth technology companies & enable the continued growth of the Kingdom’s burgeoning digital economy. Read More: https://t.co/zgA9P1mJGG#CreatingValue pic.twitter.com/muEsLMMOgr — ADQ (@Adq_Official) June 8, 2022 The fund will also be dedicated to tech startups and innovation-led companies specialised across sectors including information technology, telecommunications, financial services, education, food and agriculture, healthcare and life sciences, mobility and logistics, as well as clean energy technologies, a statement said. As much as 27 per cent of tech entrepreneurs across the MENA region are Jordanian, while the kingdom is home to more than 600 technology companies. Mohamed Hassan Alsuwaidi, managing director and CEO of ADQ, commented: “We established the $100m fund with the Ministry of Digital Economy and Entrepreneurship in recognition of the strong potential of Jordan’s tech ecosystem. Jordan’s dynamic marketplace offers vast investment potential in sectors where we have significant expertise. Moreover, we can serve as a committed partner to support their growth.” “Designed to accelerate the transformation of the digital economy, ADQ will invest, alongside MoDEE, in high-growth technology companies that will help to create, promote, and drive new digital opportunities in Jordan, and reinforce our place on the world technology map,” adds Ahmad Al Hanandeh, Minister of Digital Economy and Entrepreneurship. Last month, as part of a partnership signed between the UAE, Egypt and Jordan, ADQ committed a $10bn investment fund to enhance sustainable economic growth in five priority sectors across the three counties. Read: UAE, Egypt and Jordan agree on $10bn industrial partnership investment fund Tags Abu Dhabi ADQ fund Jordan Ministry of Digital Economy and Entrepreneurship startups 0 Comments You might also like Covestro likely to recommend ADNOC takeover offer, trims profit target Abu Dhabi firm to launch tokenised US Treasuries fund Abu Dhabi airports’ nine-month passenger jumps 31.2% Last chance for UAE overstayers as visa amnesty deadline extended