Abu Dhabi-based Access Bridge Ventures (ABV) has made the first close of its early-stage venture capital fund, with leading regional institutional investors on the list.
The fund, targeting a final goal of more than $25 million is planning to use it for supporting the high-growth tech startups in Saudi Arabia, the UAE, Egypt, Pakistan and the wider Middle East region.
By working with startups in the early-stage, ABV aims to support the development of regional and international champions across numerous sectors, including health-tech, edu-tech, fintech, enterprise-tech and Software as a Service (SaaS).
ABV has garnered huge financial support from regional institutional investors like Mubadala Capital, the financial investment arm of the UAE’s Mubadala Investment Company, the Saudi Venture Capital Company (SVC) and Jada, a fund of fund company established by Public Investment Fund to focus on investments in SMEs.
“The MENA landscape has transformed over the past few years, with entrepreneurs and startups acting as a catalyst for economic growth and development. ABV has the ability to identify and cultivate this new breed of tech companies, many of which are extraordinary in their own right, and help them realize their full potential. Securing our first close reflects the confidence in ABV’s capabilities and investment strategy, where we lead the round and support our founders throughout their journey.”
Access Bridge Ventures
Access Bridge Ventures(ABV) is a venture capital fund manager based in Abu Dhabi and regulated by the Abu Dhabi Global Market. It focuses on early-stage venture capital investments, primarily as the first institutional investor. ABV has a large regional and international reach through its management network, its affiliation with CedarBridge and the support of its partners.
Jada is a fund of funds company established by the Public Investment Funds of Saudi Arabia in late 2019. The company aims to support Saudi diversification efforts, to lead the development of a thriving Private Equity and Venture Capital ecosystem in order to ensure the long-term success of SMEs in the Kingdom.