ADQ, an Abu Dhabi-based investment and holding company, today announced the launch of a $100 million technology-focused venture capital fund (the Fund) with the Ministry of Digital Economy and Entrepreneurship (MoDEE) of Jordan, in the presence of His Excellency the Prime Minister of Jordan, Bisher Al Khasawneh. The Fund aims to support high-growth technology companies and the continued growth of the Kingdom’s burgeoning digital economy.
Building on the UAE’s strategic industrial partnership with Jordan, ADQ is reinforcing its commitment to investing in advancing core sectors of the Kingdom’s economy and enhancing the global technology ecosystem. The Fund complements ADQ’s strategy to unlock mutually beneficial growth opportunities and deliver sustainable financial returns to the UAE and its partners that drives value creation and long-term economic prosperity.
The Fund will invest in high-growth companies with proven business models, as well as funds primarily focused on Jordan. As part of accelerating the Kingdom’s digital economy, the Fund will be dedicated to tech start-ups and innovation-led companies specialized in sectors including information technology; telecommunications; financial services; education; food and agriculture; healthcare and life sciences; mobility and logistics, as well as clean energy technologies.
With 27 per cent of tech entrepreneurs in the Middle East and North Africa (MENA) region of Jordanian nationality, the country is home to highly skilled talent and more than 600 technology companies.