Hub71, Abu Dhabi’s global tech ecosystem, has found a new ally to help startups gain access to capital, with its recent partnership with Investible, the Asia-Pacific based venture capital firm.
The agreement was signed during a delegation to Australia, where Hub71 officials met with Australian MP Hon Christopher Pyne and Trevor Folsom, co-founder and chair of Investible in Melbourne.
The new partnership will help Abu Dhabi’s tech startups gain access to Investible’s early-stage funds, which collectively are valued at approximately AUS$180million, as well as Club Investible, a global network of more than 130 high-net-worth investors who provide capital and expertise to early-stage startups.
Their partnership also supports the development of climatetech startups, reinforcing Hub71’s commitment to diversifying capital sources for startups.
Investible’s Climate Tech Fund and Global Climate Tech Strategy will be available to ClimateTech startups at Hub71. While Investible’s dedicated team of investment, climate and sustainability experts will deploy sustainability-driven technologies that can reduce emissions and promote climate adaptation.
Hub71, which is backed by the Government of Abu Dhabi and Mubadala Investment Company, a tech ecosystem that provides access to global markets, a capital ecosystem, a global network of partners, and a vibrant community filled with highly skilled talent.
By deepening the capital pool for disruptive and impact-driven tech startups in Abu Dhabi, founders can expand into new markets and attract more investors from Australia and the Asia-Pacific region.
Badr Al-Olama, acting CEO of Hub71, said: “Our partnership with Investible is yet another way of deepening the capital pool for disruptive and impact-driven tech startups in Abu Dhabi. With more investors channelling funds to early-stage companies, our founders at Hub71 can expand into new markets and attract more investors from Australia and the Asia-Pacific region.”
Commenting on the partnership, Rod Bristow, CEO of Investible, said: “The intersection of business and technology knows no borders. We’re excited to be partnering with one of the MENA region’s most ambitious and active organisations to drive the early-stage tech sector forward.
“The scale of the climate crisis presents as much urgency as it does opportunity, and this partnership represents a step toward ensuring the best solutions can accelerate globally, no matter where they’re born.
The Memorandum of Understanding was facilitated by the AUS UAE Business Council member company Maysaffron, an advisory firm founded in the UAE in 2015.