UAE - Mubasher: Hub71, Abu Dhabi’s global tech ecosystem, has developed a new platform called Tech Barza to expand capital investment in tech firms, including startups, from family offices across the region.
Tech Barza aims to provide regional family offices with access to Hub71’s vibrant community of nearly 200 startups to reinforce the deal flow, according to a press release.
The platform will help tech enterprises to partner with strategic investors which own sizeable portfolios with businesses that can offer product-market fit.
The inauguration gathered family offices at Hub71, including Ali & Sons, Al Nowais Investments, Yas Investments, Al Tayer Group, Crescent Group, Faith Capital, The Kanoo Group, Al Fahim Group, Saif bin Darwish, and others.
In 2021, startup funding enlarged by 138% year-on-year (YoY) to $2.60 billion across the MENA region.
Badr Al Olama, Acting CEO of Hub71, said: “With the launch of Tech Barza, we will not just support the economic growth of the region, but we will also bring diversity and inclusivity to family offices, removing the misconception of crowding out, and reinforcing the mission of knowledge sharing.”
Since its launch in 2019, Hub71 has led AED 3.20 billion in funding for its startup community. Over 20 venture capital (VC) and venture debt funds help startups at Hub71 to secure investment and endorse sustainable projects in the UAE.
Earlier in October, Hub7 teamed up with GetFundedAfrica to foster the growth of tech startups.
