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ABV marks first close of $25m venture capital fund ABU DHABI, January 11, 2021 Access Bridge Ventures (ABV), a regionally-focused early-stage venture capital fund, has made a first close. The fund, which will target a final commitment of over $25 million, garnered investments from leading regional institutional investors. The investors include Mubadala Capital, the financial investment arm of Mubadala Investment Company, Saudi Venture Capital Company (SVC), Jada, and several prominent family offices, each of whom will gain access to some of the region’s most transformative, home-grown tech companies. The International Monetary Fund estimates that micro, small and medium enterprises (MSMEs) represent about 96 per cent of registered companies and about half of all employment in the Mena region. Despite this, the total financing gap for MSMEs is estimated to be as much as $240 billion, according to the International Finance Corporation. ....
SHARE A new Abu-Dhabi-based venture capital company completed the first close of its $25 million debut fund. Access Bridge Ventures’ fund is being backed by Mubadala Capital, Saudi Venture Capital Company (SVC) and a number of other investors, including several prominent family offices , the company said. It will invest in early stage businesses across the Middle East, North Africa and Pakistan, according to co-founder and managing partner Issa Aghabi. “We’ve developed a spectacular network of stakeholders over the years – be it investors, entrepreneurs we’ve supported and helped [or] government and sovereign stakeholders we’ve worked with in the past,” Mr Aghabi told ....