Abu Dhabi / WAM
ADQ, an Abu Dhabi-based investment and holding company, and Turkey Wealth Fund (TWF) on Wednesday launched Turkey Technology Fund — ADQ TWF, which will invest in venture capital funds and high-growth potential companies in Turkey.
Building on the UAE’s platform to support strategic investments in Turkey, the new fund was launched by Mohamed Hassan Al Suwaidi, Managing Director and Chief Executive Officer of ADQ, and Arda Ermut, CEO and Board Member of TWF.
ADQ and TWF established the fund to undertake investments in high-growth, Turkish start-ups with innovative business models. Turkey Technology Fund — ADQ TWF will invest in companies developing emerging technologies or improving technologies in significant sectors such as energy and utilities, healthcare and life sciences, food and agriculture, mobility and logistics, financial services, and education.
On this occasion, Al Suwaidi commented, “Launching Turkey Technology Fund – ADQ TWF builds on the broader commitment to investing in the future growth of Turkey we made in late 2021 as the UAE and Turkey continue to advance bilateral trade and investment.”