The startup culture in the United Arab Emirates has grown dramatically in recent years. At present, the UAE has approximately 5,000 startups spread across startup clusters in the major cities of Abu Dhabi, Dubai, and Sharjah. The country is fast becoming a hotspot for ambitious entrepreneurs and innovative startups, supported by a robust investment market and venture capital activity that ranks first in the region. With an increasing number of entrepreneurs and investors in the region, the UAE is rising as one of the most attractive marketplaces in the Middle East, with Abu Dhabi as one of its gateways. In this article, we have compiled a comprehensive list of the VC Funds and Angel Investors in Abu Dhabi that may be the right funding partner for you.
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Why Should You Raise Funds in Abu Dhabi
Startups may consider raising funds in Abu Dhabi for several reasons, including the following:
1. Favorable Business Environment: The rise in startups and investment activity in Abu Dhabi has been spurred by government initiatives that promote entrepreneurship and innovation across a wide variety of industries. Startups in the UAE benefit from the country's strong rule of law supportive of the startup ecosystem, distinguished by low tax rates, simplified regulations, and a solid legal framework. The Abu Dhabi Global Market (ADGM), an international financial free zone located in Abu Dhabi, provides a legal foundation that allows enterprises to operate in compliance with international norms. This framework guarantees a secure investment climate by offering tax breaks, legal protection, and access to financial markets.
2. Thriving Startup Ecosystem: The startup environment in Abu Dhabi is growing and thriving. According to Hub71, Abu Dhabi's startup center, tech firms in its community secured approximately AED 30 million (USD 8.2 million) in corporate transactions in 2021, with the aggregate valuation of Hub71 startups surpassing AED 5.9 billion (USD 1.6 billion). Additionally, Abu Dhabi's ecosystem benefits from its strategic access. The city's location between East and West allows it to reach over 4 billion people in the Middle East, North Africa, South Asia, and Europe, making it a perfect center for companies trying to increase their reach.
3. Comprehensive Startup Support: There are several assistance programs accessible for early-stage entrepreneurs, thanks to the availability of multiple startup incubators and accelerators in Abu Dhabi. For instance, the Khalifa Innovation Center was the first business in the city to be granted a license to operate as an incubator by the Abu Dhabi Department of Economic Development in 2021. Then there's Hub71, which offers an Incentive Program that provides subsidies on housing, office space, and insurance to seed and growth-stage firms in order to lower the cost of establishing and growing a company in Abu Dhabi. The Abu Dhabi Global Market (ADGM) and Hub71 also provide mentorship programs and access to a growing network of venture capital funds, banks, investors, regulators, and corporate and government partners that can offer funding and support for growth.
Venture Capitalist Funds in Abu Dhabi
The venture capitalist funds below are actively looking for investments in promising companies throughout various stages and sectors. The stages stated do not limit the possibility of getting funding if your company is at any stage other than what is listed.
Year of Inception: 2016
Stage: Pre Seed, Seed, Series A
Focus: Technology
Notable Portfolio: Nuqtah, Nymcard, Immensa Technology Labs, Breadfast
Investing in the future of industries, Shorooq Partners invest in technology startups across emerging markets. They are motivated by the desire to invest in outstanding founders and actively delivering value to help them develop long-lasting and market-leading businesses, in the form of dedicated team support across select functions and follow-on capital. To date, they have amassed a significant portfolio of over 68 companies with a portfolio gross equity value amounting to USD 3.5 billion.
Year of Inception: 2011
Stage: Pre Seed, Seed, Series A
Focus: Technology, Media
Notable Portfolio: Instabug, Hawaya, Chefaa, Makwa
Flat6Labs is the MENA region's leading seed and early stage venture capital firm that invests in technology-driven startups. Along with the investments, Flat6Labs offer exceptional startup programs designed specifically for the needs of innovative entrepreneurs to help them accelerate their growth by providing a plethora of support and network. Founded and based in Cairo, Flat6Labs has established offices around the region, including in the United Arab Emirates.
Year of Inception: 2022
Stage: Seed, Series A
Focus: Fintech, Digital Assets, Supply Chain
Notable Portfolio: Fuze, Aurem, Right Farm, Stealth
Further Ventures invest in technology startups and are dedicated to working with founders from the concept stage to validate, prototype, to launch new businesses. Made up of a team of builders and operators, they will provide assistance to founders in key areas, including talent sourcing, product design, branding, engineering, business development, market-entry, and more. Further Ventures will also help connect you to their network of talent, advisers, and decision-makers in firms all across the world to help you succeed.
Year of Inception: 2013
Stage: Seed, Series A
Focus: Fintech, Enterprise Software, Mobility, HealthTech, FoodTech, Digital Media
Notable Portfolio: Aspire, Baraka, HelloVerify, Immensa, Omniful
VentureSouq invests in and supports innovative founders who are establishing breakthrough technology startups. As venture capitalists, they manage thematic funds, with an emphasis on FinTech and ClimateTech at the moment. Aside from investments, VentureSouq is also actively involved in advancing the startup ecosystem through its investment in programs such as Conscious Investor Fellowship, the region's first impact investing program, and Angel Rising, an annual investor symposium.
Year of Inception: 2016
Stage: Seed, Series A
Focus: Technology
Notable Portfolio: Qashio, Trukker, Oseven, Fetchr
Iliad Partners is an early-stage venture capital firm that invests in MENA technology startups, with a focus on the UAE and Saudi Arabia. They are interested in projects that are enabling and digitizing the region's economy through localized solutions in key sectors such as finance, proptech, logistics, and edtech. As venture capitalists, they take an active, hands-on approach, utilizing their operational experience and regional network to actively support their startups in a variety of functions.
Year of Inception: 2021
Stage: Seed, Series A
Focus: Fintech, Healthtech, Enterprise tech, Logistics tech, Edtech
Notable Portfolio: Grubtech, Barq, Holo, Penny, Alma Health
Oryx Fund is the MENA-focused investment fund by Hambro Perks, a London-based international investment firm. They focus their investments on early-stage technology companies.
Year of Inception: 2021
Stage: Seed, Series A
Focus: Technology
Notable Portfolio: Kleen, Viv, Wafeer, Suplyd, DXWand
+VC, otherwise known as Plus Venture Capital, invests in tech and tech-enabled startups throughout the MENA region and its diaspora. With a team of former founders, they utilize their experience and knowledge to provide you with the assistance you require to grow your business.
Year of Inception: 2018
Stage: Series A, Series B, Series C
Focus: Fintech, Digital Health, Edtech, Foodtech, Insurtech, Cyber Security, Web3, Mobility & Logistics, Infotech, Future of work, eCommerce, Agritech
Notable Portfolio: Proximie, Moniepoint, Helium Health, Red Sea Farms
Global Ventures invests in founders from developing markets who are on a mission to transform the world. They invest in great ideas with impact, leveraging technology to improve emerging countries and the globe.
Year of Inception: 2010
Stage: Series A, Series B, Series C
Focus: Technology, E-Commerce, SaaS, Software, Mobile Apps
Notable Portfolio: Hala, Lyve, Rain, Fresha, Anghami
Middle East Venture Partners provide both early and growth-stage investments to founders and assist them in bringing forth innovation in both technology and society. They are focused on providing patient capital with the commitment for time, energy, and resources that tech founders require to thrive in the marketplace.
Year of Inception: 2018
Stage: Series A, Series B, Series C
Focus: Sector Agnostic
Notable Portfolio: Epifi, Klarna, Coursera, Zeta, Fresha
Chimera Capital is the venture capital division of Chimera Investments LLC, a private investment firm. With decades of investment knowledge and a proven track record of successful investments, they have launched a few venture capital funds that invest in multi-stage startups.
Angel Investors in Abu Dhabi
The Angel investors listed below are part of an Angel community located throughout Abu Dhabi. They may act as an individual or as a syndicate to fund projects of their preference, so these networks are the best opportunity for you to find a potential Angel with an aligned vision and interests.
Stage: Seed, Series A
Focus: Sector Agnostic
Notable Portfolio: -
The Middle East Investment Network is an angel platform where entrepreneurs may register their projects to find funding from angel investors on the site. It is a great platform where founders looking to fundraise may meet angel investors looking for investment opportunities. As a member of the site, founders can also browse through investor profiles and get in touch with the, through the platform.
Stage: Seed, Series A
Focus: Sector Agnostic
Notable Portfolio: -
Established in 2020, the Emirates Angels Investors Association is a non-profit organization legally registered with the Ministry of Community Development. Their aim is to positively contribute to the early-stage investment ecosystem via their investor network, with a focus on tech-based entrepreneurs and a sector-agnostic strategy. The association does not invest in startups, but its members are investors by nature and can invest through a fund, a side vehicle, or personally as they see appropriate.
Closing Thoughts on VCs and Angel Investors in Abu Dhabi
The UAE Government's implementation of long-term strategies to boost startup success, as well as a supportive regulatory environment to foster and assist startups, have bear its fruits. With its various business-friendly rules and openness to embracing contemporary technologies, the ecosystem and venture capital market in the UAE are visibly thriving. Numerous venture capital firms and angel investors have invested and supported the startups with the much-needed financial support and other resources they need for their growth. As one of the major startup hubs in the country, Abu Dhabi offers entrepreneurs a great environment in which to establish and grow their companies.
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