Sign in
Haveli Investments to establish presence in ADGM with ADCP backing: Abu Dhabi Catalyst Partners (ADCP), a JV between Mubadala Capital and investment firm Alpha Wave Global, is set to invest an undisclosed amount in US-based tech-focused private equity firm Haveli Investments ’ software strategies, a press release reads. As part of the agreement, the technology firm will set up shop in the Abu Dhabi Global Market.
The details: Haveli’s debut regional office in Abu Dhabi will host a team of software and gaming investment experts in Abu Dhabi aiming to boost the company’s global outreach, according to the statement.
IN CONTEXT- With a USD 1.7 bn capital base, part of ADCP’s goals is to attract businesses to ADGM. So far, the JV has invested in over 29 companies and is helping to create 400 new jobs in the ADGM. ADCP currently aims to finalize from four to eight new transactions, Mubadala Capital Solutions Co-Head Fatima Al Noaimi previously said.
IN OTHER INVESTMENT NEWS-
#1- AGWA to expand its cultivated meat production capacity: Abu Dhabi’s new food and water cluster — AgriFood Growth & Water Abundance (AGWA) — has partnered with cultivated meat producer Believer Meats to expand cultivated meat production, Wam reports. As part of the agreement, Believer Meats will set up its regional headquarters in Abu Dhabi in a bid to expand its commercial operations, product manufacturing, and R&D capacities.
Background: Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan approved the launch of AGWA — led by the Abu Dhabi Department of Economic Development and the Abu Dhabi Investment Office — earlier this month. The cluster seeks to promote alternative proteins, algae, and reverse osmosis technologies to address global food shortages and water scarcity.
More on Believer Meats: The company develops scalable cell-cultivation technology for cultivated meat. Believer Meats is currently constructing the world’s largest facility in North Carolina, set to open by late 2024, featuring an innovation center and tasting kitchen.
#2- NUOS to set up shop in Abu Dhabi: Swiss alternative protein specialists NUOS will set up an innovation center and food manufacturing facilities for alternative protein production in Abu Dhabi, after inking an agreement with AGWA, Wam reports. The move comes as the company looks to serve Europe, North America and MENA markets and slash dependency on animal-based food systems to meet net-zero targets. The agreement will also see NUOS collaborate with Abu Dhabi-based R&D institutes for innovative and sustainable food technologies, and universities to develop talent in this field.
