MUMBAI: ADQ, formerly Abu Dhabi Developmental Holding Company, on Tuesday said it has launched a new venture capital fund, Alpha Wave Incubation Fund, worth AED 1.1 billion ($299.5 million) to invest in early-stage businesses in Southeast Asia.
The venture fund, managed by New York-based hedge fund Falcon Edge Capital, is located in the Abu Dhabi Global Market, the international financial centre situated in the Al Maryah island at Abu Dhabi.
The fund would help startups set up global or regional headquarters in Abu Dhabi’s Masdar City, while also providing them market access to the United Arab Emirates (UAE) and the broader Middle East and North Africa (MENA) region. “To maximise our value creation and long-term impact on society, we will