ABU DHABI, Hub71, Abu Dhabi’s global tech ecosystem, has launched a partnership with Asia-Pacific based venture capital firm Investible, to support the growth of tech startups and early-stage companies in Abu Dhabi.
Founders at Hub71 will benefit from access to Investible’s Early-Stage Funds, valued at approximately AUS$180 million funds under management collectively. Hub71 startups will also gain access to Club Investible, a global network of more than 130 high-net-worth investors who provide capital and expertise, for additional growth support.
Investible will gain a foothold in Abu Dhabi with access to Hub71’s startup community where it will contribute to mentorship programmes and events to provide additional value to founders scaling early-stage startups. Meanwhile, ClimateTech startups will also be able to explore funding opportunities through Investible’s Climate Tech Fund and Global Climate Tech Strategy, as well as benefit from Investible’s dedicated team of investment, climate, and sustainability experts to deploy sustainability-driven technologies that can reduce emissions and promote climate adaptation.
The agreement was signed by Badr Al Olama, Acting Chief Executive Officer of Hub71, and Trevor Folsom, Co-Founder and Chair of Investible in Melbourne, Australia, alongside a delegation from the Australia United Arab Emirates (AUS UAE) Business Council to Australia and Australian MP Hon Christopher Pyne.
Commenting on the partnership, Al Olama said, “Our partnership with Investible is yet another way of deepening the capital pool for disruptive and impact-driven tech startups in Abu Dhabi. With more investors channelling funds to early-stage companies, our founders at Hub71 can expand into new markets and attract more investors from Australia and the Asia-Pacific region.”
Rod Bristow, Chief Executive Officer of Investible, stated, “We’re excited to be partnering with one of the MENA region’s most ambitious and active organisations to drive the early-stage tech sector forward. The scale of the climate crisis presents as much urgency as it does opportunity, and this partnership represents a step toward ensuring the best solutions can accelerate globally, no matter where they’re born.
“We look forward to supporting Asia Pacific founders entering this growing market, and welcoming opportunities for over 200 companies in Hub71’s ecosystem to bring their innovative solutions to Australia, Southeast Asia and beyond,” he added.
Source: Emirates News Agency