Abu Dhabi-based investment and holding company ADQ and Türkiye Wealth Fund has launched Türkiye Technology Fund, aimed at investing $300 million in venture capital funds and high-growth potential companies in Türkiye.
It was launched by Mohamed Hassan Alsuwaidi, managing director and CEO of ADQ, and Arda Ermut, chief executive officer and board member of TWF.
According to a statement issued by ADQ, the Türkiye Wealth Fund will invest in companies developing emerging technologies, or improving existing technologies in significant sectors, such as energy and utilities, health care and life sciences, food and agriculture, mobility, and logistics, financial services, and education.
"ADQ TWF builds on the broader commitment to investing in the future growth of Türkiye we made in late 2021 as the UAE and Türkiye continue to advance bilateral trade and investment," Alsuwaidi said.
He added, "By providing access to the national and regional champions in our portfolio, we will help to unlock even greater value for these companies and funds with high growth potential."
Ermut added: "Türkiye Wealth Fund will give ADQ and TWF access to a pipeline of compelling investment opportunities specialized in next generation technologies that will contribute to the strategic growth of Türkiye’s economy and ultimately reinforce bilateral cooperation between both our nations."
