Abu Dhabi sovereign wealth fund ADQ has launched a new venture capital firm called Further Ventures, serving as the anchor investor in its first US$200 million fund.
Further Ventures describes itself as a venture building and investment firm that invests in early stage startups with a focus on fintech, digital assets and supply chains.
The firm is headed by Faisal Al Hammadi, who was previously “Executive Director, Incubation” at ADQ and CTO of ADQ subsidiary Silas. Faisal also sits on the board of recently-launched digital banking app Wio and entrepreneur community Endeavor, and chairs media company twofour54.
“Over the past year our team has worked to create the co-founder we’ve always wanted in our own startups.
Our fund will allow us to build the best foundation for company building in the region that will increase the chances of success for founders and the venture community,”
said Faisal Al Hammadi, Managing Partner, Further Ventures.
