Hub71 has partnered with Asia Pacific-based venture capital firm Investible to support the growth of Abu Dhabi tech startups and early-stage companies.
The founders of Hub71 will benefit from Investible’s early-stage funds, which collectively manage approximately A$180 million in value. Hub71 startups will also gain access to Club Investible, a global network of over 130 high-net-worth investors who provide capital and expertise for additional growth support.
Investible will gain a foothold in Abu Dhabi through access to Hub71’s startup community, where it will contribute to mentorship programs and events, providing additional value to founders scaling early-stage startups. At the same time, ClimateTech startups will also be able to explore funding opportunities through Investible’s Climate Technology Fund and Global Climate Technology Strategy, and benefit from Investible’s dedicated team of investment, climate and sustainability experts deploying sustainability-driven technologies that can reduce emissions and contribute to climate adaptation.
The agreement was signed by Badr Al-Olama, acting CEO of Hub71, and Trevor Folsom, co-founder and chairman of Investible, who visited Australia and Australian MP Hon Christopher Pyne at the Australia-United Arab Emirates (AUS UAE) Business Council in Melbourne, Australia.
Badr Al-Olama, acting CEO of Hub71, said: “Our partnership with Investible is another way to deepen the capital pool for Abu Dhabi’s disruptive and impact-driven tech startups. By investing funds in early-stage companies, we Hub71 founders can open up new markets and attract more investors from Australia and the Asia-Pacific region.”
Commenting on the partnership, Investible CEO Rod Bristow said: “The intersection of business and technology knows no borders. We are delighted to be partnering with one of the most ambitious and active organizations in the MENA region. The scale of the climate crisis presents both opportunity and urgency, and this partnership represents a step toward ensuring that the best solutions can be accelerated globally, regardless Where do they come from.
“We look forward to supporting founders in Asia Pacific to enter this growing market and welcome the opportunity for the 200+ companies in the Hub71 ecosystem to bring their innovative solutions to Australia, Southeast Asia and beyond,” he added.
The MoU was brokered by Maysaffron, a member firm of the Australia-UAE Business Council, a consultancy firm established in the UAE in 2015.