Abu Dhabi Investment Office opens eight global offices to attract investors
Abu Dhabi has been increasingly targeting technology and disruptive startups to diversify its economy away from oil
DUBAI: The Abu Dhabi Investment Office (ADIO) has set up eight new offices in Tel Aviv, New York, San Francisco, Frankfurt, London, Paris, Beijing and Seoul, in an effort to attract investors, the state news agency WAM reported.
Abu Dhabi, a major oil producer and home to some of the world’s biggest sovereign wealth funds such as the Abu Dhabi Investment Authority (ADIA), has been increasingly targeting technology and disruptive startups to diversify its economy away from oil.
The network of offices, in collaboration with the Abu Dhabi Department of Economic Development, expands ADIO’s reach in key overseas markets, where it is looking to attract innovative businesses to establish and grow in the emirate, WAM cited ADIO as saying in a statement.
ADIO’s international expansion complements its $545 million Innovation Programme, which provides financial and non-financial incentives to innovation-driven businesses in high-growth areas.