SDF Allocates US$150m For Local, International Venture Capital Investments
Faizan Hashmi Published November 16, 2021 | 05:00 PM
ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 16th Nov, 2021) The Strategic Development Fund (SDF), the investment arm of Tawazun Holding, has announced an allocation of US$150 million (AED551.2 million) for Venture Capital investments into early-stage companies in the UAE and internationally operating in defence and security, aerospace technologies amongst other frontier and emerging technologies.
Tareq Abdulraheem Al Hosani, Chairman of the board of Directors of SDF and Chief Executive Officer of Tawazun Economic Council Venture Capitalised said that this initiative is in line with the strategy to deploy funds with attractive financial returns and participating in the development of modern technologies related to their strategic interests while building partnerships that provide opportunities to contribute to building a sustainable high tech and industrial ecosystem.
Abdulla Naser Al Jaabari, SDF Managing Director and CEO, said, "We are targeting emerging companies in specific strategic sectors that have high growth potential and global scalability, especially in the markets of the UAE, the middle East, the European Union, the United Kingdom, and other potential markets."
He added that the SDF targets specific sectors, including defence and security, aviation and aerospace, urban mobility, autonomous systems, robotics, and energy and powering technologies.
He revealed that around 85 percent to 90 percent of the Venture Capital allocation would be invested directly into companies, with the remainder earmarked for indirect investments that would support our diversification and access to co-investment opportunities.
"SDF has already closed four deals worth estimated around US$30 million (AED110 million), including three direct and one indirect investment."
The recent investments include HawkEye 360, which specialises in space-based radio frequency (RF) data and geospatial analytics, Hisky, a leader in low-cost satellite communications and TriEye, which provides ground-breaking CMOS-based Short-Wave Infrared (SWIR) sensing technology. The current portfolio of investments ranges from the United States to Israel.
The fund is expected to close two additional investments by the end of this year, bringing the total Venture Capital investments to six with an expectation to deploy the remainder over the next 18 to 30 months.
SDF plays a vital role in supporting the private sector to meet the strategic needs of the UAE, encourage creativity and innovation among local companies and enable them to participate in building a diversified national economy.
Related Topics
Recent Stories
Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 25 April 2024
Today Gold Rate in Pakistan 25 April 2024
Mired in crisis, Boeing reports another loss
Session Awarding Ceremony 2024 held at Cadet College Muzaffarabad
Austrian ski great Hirscher to make comeback under Dutch flag
Pakistan, Japan agrees to convene 'Economic Policy Dialogue'
FM Dar conveys deepest sympathy on torrential rains devastation in UAE
Spain PM Sanchez says weighing resignation after wife's graft probe
Tennis: ATP/WTA Madrid Open results - 1st update
Long-lost Klimt portrait auctioned off for 30 mn euros
Osaka seals first win on clay since 2022 in Madrid
Earthquake jolts Karachi
More Stories From Middle East
-
UAE announces ‘Zero Bureaucracy Program’ to reduce bureaucracy
3 months ago -
COP28 President-Designate welcomes Transitional Committee agreement to operationalise Loss and Damag ..
6 months ago -
Global Media Congress 2023 to feature Co-Production Majlis as a new networking platform
6 months ago -
Young female athletes shine at Abu Dhabi World Youth Jiu-Jitsu Championship
6 months ago -
King of Jordan receives Abdullah bin Zayed and ministers participating in Arab coordination meeting
6 months ago -
Abdullah bin Zayed participates in coordination meeting of Arab foreign ministers, joint meeting wit ..
6 months ago
-
3rd annual conference of Emirates Society of Clinical Microbiology kicks off in Dubai
6 months ago -
SIBF 2023 hosts Nobel laureate to discuss emergence of ‘Afrofuturism’ in global discourse
6 months ago -
ALC announces winners of Kanz Al Jeel Award 2023
6 months ago -
SIBF turns spotlight on remarkable contributions of women
6 months ago -
Global assets in spot bitcoin ETFs hit $4.16 billion
6 months ago -
Rescuers struggle to find Nepal quake survivors as deaths reach 157
6 months ago