A&O supports Hub71 on the intake of its latest cohort of start-ups
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News: 15 May 2023
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Allen & Overy has advised Hub71, Abu Dhabi’s unique global tech ecosystem, on the development of its incubator investment framework for the intake of the latest cohort of start-ups joining its company-building programme.
Hub71 welcomed 15 new ventures to their community, operating in priority sectors aligned with Abu Dhabi’s strategic ambitions, such as fintech, healthtech, proptech, e-commerce, data science, edtech, and cyber security. The addition of the latest cohort has increased the size of Hub71’s community to over 240 start-ups.
Backed by the Government of Abu Dhabi and Mubadala Investment Company, Hub71 enables founders to build globally enduring homegrown tech companies by providing access to global markets, a capital ecosystem, a global network of partners, and a vibrant community filled with highly skilled talent, governed by forward-thinking regulation.
Middle East Head of TMT and partner Tom Butcher, who led the A&O TMT team, commented:
“We are thrilled to have represented Hub71 in this part of their journey to position Abu Dhabi as a global leading tech hub, driving entrepreneurism and 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.”
Senior Associate and Co-Chair of the Middle East Venture Capital Association’s Legal Comittee, 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. ”