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256 Network, a leading invited network group that brings together global decision makers investing in private markets, signed a Memorandum of Understanding with Abu Dhabi Global Market, an international financial center in the capital of the UAE, during Abu Dhabi Financial Week. The week-long event serves as a platform for in-depth dialogue around the MENA region’s burgeoning financial sector, industry trends, financial markets and developments and innovations in global banking.
The signing ceremony was attended by Dhruv Sehra, founder and CEO of 256 Network, Pankaj Gupta, co-founder and co-CEO of Gulf Islamic Investments and founding board member of 256 Network GCC chapter, and Prashanth Prakash, founding board member of 256 Network Rajan, founding partner of Accel Partners Navani (virtual), Founding Board Member, Jetline Group (JetSynthesys) 256 Network, VC and MD, and Rajiv Sehgal, Chief Strategy Officer, ADGM, Dhaher bin Dhaher, CEO, Registration Authority ADGM, Hamad Al Mazrouei, COO, ADGM, and Sovereign and Saeed Al Khoori, Director of Strategic Partnerships, and other senior members from both entities. Part of the visit was to open an office in Abu Dhabi in line with their expansion plans.
Under the MoU, 256 Network and Abu Dhabi Global Market (ADGM) will work together to develop startup ecosystems in India and the UAE and foster cross-border innovation and collaboration.
The group has also launched their Emerging Fund Manager Scholarship, which 256 Network will facilitate, fund and help first and second time fund managers from around the world to launch their funds. The program is designed for fund managers working in venture capital and private equity investment vehicles. They will be able to leverage ADGM’s expertise and access to gain a competitive advantage while launching their funds.
During Abu Dhabi Financial Week, 256 Network invited 250 of its global members to a retreat that included a visit to the Hindu Mandir Temple, the first traditional Hindu temple in the Middle East.
Accompanying the visit were Dr. Sultan Karmostaji, Deputy Director, Education, Training and Development, Ministry of Interior, Abu Dhabi; Founder and Chairman, UAE Angels Capital Investment and Holiness Brahmavihari Swami; and 256 founding board members, Pankaj Gupta and Prashan Prakash.
Dhruv Sehra, Founder and CEO of 256 Network, said: “The MoU marks an important milestone in the international cooperation between the two entities. Threshold, we are eager to strengthen our footprint in Abu Dhabi as the group spares no effort to strengthen its position in the UAE’s thriving market and continue to attract investors and leverage its full capacity.”
Rajan Navani, Founding Board Member of 256 Network and VC & MD of Jetline Group, said: “The MoU with ADGM results in a sizeable international partnership that will help both organizations foster the upcoming There are fund managers like no one else – people with synergy and experience. It is also a major step towards ensuring that investing and doing business in the MENA region, full of untapped potential, is easier. I look forward to watching to what we can achieve together in the future.”
Prashanth Prakash, founding board member of 256 Network and founding partner of Accel Partners, said: “Both of our regions have long-standing business relationships that span decades, and this expansion marks a new association that will foster our corporate and start-up Synergy between communities. I’m excited to see the innovations and startups that emerge as a result of our collaboration. Our startup community is one of the fastest growing in the world and this partnership will not only create more jobs, but also generate cultural and financial capital that will boost the economies of our two countries over the next decade.”
Arvind Ramamurthy, Head of Markets, ADGM, said: “We are delighted to partner with 256 Network by signing this MoU. This step is especially important as we witness continued growth and expansion in Abu Dhabi and the UAE’s financial markets. Strengthening partnerships with international industry leaders Connectivity is at the top of our strategy and we look forward to working with our partners in India to create more investment opportunities and develop a strong business ecosystem.
Pankaj Gupta, co-founder and co-CEO of Gulf Islamic Investments and founding board member of 256 Network GCC Chapter, said: “We are pleased to continue to nurture this strategic relationship as it aims to further strengthen financial activities, facilitate investment flows and encourage business innovation The agreement paves the way for more joint efforts and initiatives. Together we can work closely together to build strong relationships and empower the business community in the UAE and India.”
We will continue to work with our strategic partners locally and internationally to advance the economic development plans of Abu Dhabi and the UAE and achieve greater investor trust, convenience and ease of doing business in Abu Dhabi and beyond . “
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