Mubadala Puts US$1 Bil into Abu Dhabi’s Financial Center to Court Top Guns into MENA29. April 2019
Abu Dhabi Global Market (ADGM) announced a Mubadala Investment Company-backed fund geared towards growing the financial ecosystem in Abu Dhabi.
The new fund, called the Abu Dhabi Catalyst Partners, will be based in ADGM, the financial center of Abu Dhabi.
According to a press release, the fund will be utilised to explore opportunities locally and abroad, by partnering with top tier and up-and-coming investment firms and industry-leading businesses—as well as professionals who might benefit from building a sustainable presence in ADGM.
Its target will be in areas like asset management, specialty finance and financial infrastructure, with investees expected to have a presence in ADGM. Criteria will also include the investees’ impact on job creation and engagement with the wider ADGM-based service ecosystem.
Where applicable, the firm will also work with Mubadala investment teams and portfolio companies to pursue ADGM-related opportunities.
The ADGM prides itself as a gateway to the MENA region, and claims that the Emirate also offers opportunities for companies looking to expand globally. This is likely the message that the financial center will put at front and center in its efforts to entice international fintechs and other financial services-related businesses to set up shop in ADGM.