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Tech-focused venture capitalist target global has announced that the Abu Dhabi Global Market free zone in united arab emirates.
Target Global was founded in 2012 and is headquartered in Berlin, Germany. Over the past decade, it has invested in several tech unicorns and expanded to operate out of its London office, Tel Aviv and Barcelona.
Target Global’s investments span fintech, health technology and consumer industries, including companies like Rapyd, Wefox, and Delivery Hero. It manages 3 billion euros ($3.25 billion) in assets and has 15 unicorns in its portfolio.
The company has been building its presence. In 2022, it helped fintech platform Rapyd open an office in Dubai, its first in the Middle East. In October 2022, it led a delegation of founders from its portfolio to meet with senior figures in the UAE’s financial industry.
“The growth trajectory and the sheer number of opportunities that the UAE offers entrepreneurs are unparalleled,” said Shmuel Chafets, co-founder of Target Global.
“We believe the government’s forward-looking strategy coupled with the country’s impressive infrastructure and regulatory framework will continue to attract many world-class businesses to the region, and we are proud to contribute to the growth and development of this important ecosystem by taking root .”
The UAE office will be led by Peter Roos, Target Global’s Chief Operating Officer, who will be responsible for building a team in Abu Dhabi. The company has 40 employees across all its offices.
Abu Dhabi clearly designed to be a fintech hubas evidenced by the ambitious Abu Dhab Finance Week event, which takes place in late 2022.
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