Allen & Overy advised in Abu Dhabi’s Hub71 on the development of incubator investment framework
Allen & Overy advised in Abu Dhabi’s Hub71 on the development of incubator investment framework
Allen & Overy has provided advisory support to Hub71, Abu Dhabi's renowned global tech ecosystem, in the formulation of its incubator investment framework for the upcoming cohort of start-ups entering its company-building programme.
With a focus on sectors that align with Abu Dhabi's strategic ambitions, Hub71 has welcomed 15 new ventures to its community. These start-ups operate in priority areas including fintech, healthtech, proptech, e-commerce, data science, edtech, and cybersecurity. The inclusion of this latest cohort has resulted in an expansion of Hub71's community, which now boasts a total of over 240 start-ups.
Supported by the Government of Abu Dhabi and Mubadala Investment Company, Hub71 serves as a catalyst for founders to establish resilient homegrown tech companies with a global reach. It accomplishes this by offering access to international markets, a comprehensive capital ecosystem, an extensive network of partners, and a thriving community enriched with highly skilled talent. Governed by progressive regulations, Hub71 provides an environment conducive to innovation and growth.
Tom Butcher, the Middle East Head of TMT and partner at Allen & Overy, expressed his enthusiasm for representing Hub71 during this pivotal phase of their mission to establish Abu Dhabi as a prominent global tech hub, fostering entrepreneurship and driving innovation.
“We have witnessed a significant increase in the volume of venture capital investments and activity in the region, demonstrating the importance of the technology sector and the crucial role that it will have in the UAE’s future economy. This supports the long-term investment Allen & Overy has made into our Middle East Growth and Venture Capital practice, providing clients with international experts with genuine local expertise and insight,” Butcher said.
Senior Associate and Co-Chair of the Middle East Venture Capital Association’s Legal Committee, Grace Hunt, who led the A&O Corporate team, also commented: “It was a pleasure supporting Hub71 in putting in place their investment framework for this cohort of exciting and innovative companies. Our work on the project demonstrates our continued commitment to be an active participant and supporter of the venture capital ecosystem in the Middle East.”
