Further Ventures, a new investment company, will focus on fintech and supply chain startups as well as building digital assets.
Further Ventures, an ADQ-backed investment firm, has launched a USD 200 million fund to accelerate growth among fintech and supply chain startups as well as building digital assets.
The fund, supported by Abu Dhabi’s ADQ, will seek founders working in “frontier or regulated industries” according to the company. Further will work with entrepreneurs as an institutional co-founder in order to support new companies from conception to exit. The new venture capital firm offers a range of services in legal and regulatory support, recruitment, operations and business development.
Future will also work to provide startups with access to organizations in the MENA region as well as global venture builders thanks to the company’s extensive network. Part of this outreach effort will include the creation of the “Further Network” to facilitate the connecting of startups with venture builders while the company actively invests in and co-creates innovative firms.
Areas of focus
Further will seek to target the digital asset payment space through investments in startups working on blockchain asset custody, security solutions, marketplaces and wallets.
In terms of fintech, the company is studying asset management, SMEs in the financial space, financial inclusion, remittances and payroll services.
Finally, in the supply-chain sector, the company will focus on digital freight and warehouse management firms and other logistics ventures, leveraging Further’s ties to ADQ’s portfolio.
Current portfolio
Further currently works with four startups, UAE-based fintech firms Aurem Wealth Solutions and Floos, B2B supply chain company Right Farm and digital assets firm Stealth.
Further Ventures, ADQ and DisruptAD
Further Ventures is ADQ’s latest venture. ADQ’s portfolio includes a range of companies in industries including energy and utilities, healthcare and pharmaceutical, mobility and logistics, food and agriculture, financial services and more.
In March, ADQ brought its VC activities together under DisuptAD, an investment firm specializing in startups and VC funds. Disrupt AD also works to create new incubators and accelerators to support the startup environment in Abu Dhabi. DisruptAD seeks to support over 1,000 startups over the next five years and is targeting markets including the MENA region, India, China, South East Asia and the US.
DisruptAD heads up the USD 300 million Alpha Wave Incubation Fund that focuses on Indian and South East Asian startups. It also manages the USD 145 million Ventures Fund of the Ghadan 21 initiative.
MENA region startups saw investments of USD 378 million in August, a recovery from July, which saw 2022’s lowest levels of investment.