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Monday, May 23, 2022

With $300 million… the launch of an Emirati-Turkish investment fund

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ADQ Holding and Turkish Sovereign Wealth Fund TWF announced the launch of the “Turkey Technology Fund – ADQ TWF” with a capital of $300 million.

With the aim of investing in various venture capital funds and emerging companies with high growth potential in Turkey.

Building on the UAE’s broader platform to support strategic investments in Turkey, Mohamed Hassan Al-Suwaidi, Managing Director and CEO of ADQ Holding, and Arda Ermut, CEO and Board Member of the Sovereign Wealth Fund of Turkey, launched the “Turkish Technology Fund” – ADQ TWF”.

By establishing “Turkey Technology Fund – ADQ TWF”, ADQ Holding and the Turkish Sovereign Wealth Fund (TWF) seek to invest in Turkish startups with high growth potential and innovative business models.

The fund will invest in companies working on developing new technologies or improving existing technologies in major sectors such as energy, utilities, healthcare, life sciences, food and agriculture, transportation and logistics, financial services and education.

On this occasion, Mohamed Hassan Al-Suwaidi, Managing Director and CEO of ADQ Holding, said: As part of our effort to enhance bilateral trade and joint investment from the end of 2021, the launch of “Turkey Technology Fund – ADQ TWF” confirms our commitment to invest in future growth to Turkey, where the United Arab Emirates and Turkey continue to support bilateral trade and investment with each other.

He added: “Turkey is an attractive market with great opportunities to invest in vital sectors that correspond to our business priorities. We will work to add more value to these high-growth companies and funds by facilitating access to our network of leading global companies. national and regional in our portfolio”.

For his part, Arda Ermut, CEO and Board Member of the Turkish Sovereign Wealth Fund, said: The technology sector has achieved significant growth in Turkey in recent years and we believe that the “Turkish Technology Fund – ADQ TWF” will provide more investment opportunities in the new generation technologies of the “Holding.” /ADQ/ and the Turkish Sovereign Wealth Fund These investments will contribute to the strategic growth of the Turkish economy and ultimately to the strengthening of bilateral cooperation between our two countries.

Ermut added: This fund represents the first step taken by the Turkish Sovereign Wealth Fund (TWF) on the way to achieve its vision of building a broader technology platform worth one billion dollars, thus becoming the technology fund of reference that accelerates the growth of the technology sector. and leads the progress in technology sectors The important strategy for the development of Turkey.

He continued: “Compared to similar funds in the country, the ADQ TWF Turkey Technology Fund will add more unique value to our country through its large size, its attractiveness for international direct investment, and its multiplier effect on other investments in the sector.” .

He continued: At the end of 2021, the investment capital system in Turkey reached its highest rate in all quarterly, semi-annual and annual levels of the capital attracted by local start-ups, which also represents 30% of all capital transactions of investment that was made his achievement, and more than half of the capital was invested in new companies within the MENAT and Pakistan markets.

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