Today's Edition
MAYS IBRAHIM (ABU DHABI)
Hub71, Abu Dhabi's global tech ecosystem, has onboarded six angel investor groups through its Angel Investor Support Package, helping unlock more than $500,000 in startup funding since its 2024 launch, an executive told Aletihad exclusively on Tuesday.
The initiative, backed by a Dh150,000 incentive, was designed to expand early-stage investment in Abu Dhabi by enabling structured investor groups to pool capital and deploy it more efficiently into startups.
"We saw a gap in early-stage funding and not enough organised angel groups in the UAE," Basma Ahmed AlBadi AlDhaheri, Head of Value Creation at Hub71, told Aletihad. "The idea was to bring investors together into structured groups so they can invest collectively rather than individually, which creates stronger value for both investors and startups."
The support package also includes subsidised office spaces for two years, reduced ADGM SPV/ICC setup costs, and access to shared legal, audit and back-office support, alongside advisory services on investment and portfolio management.
The programme currently accepts one to two angel groups annually. One of its early success stories is Qora71, founded by Youssef Salem, which has grown into a syndicate of more than 130 angel investors.
The group has facilitated over 50 investments deploying more than $2 million, with a further $1 million in the pipeline.
Originally launched with Hub71 support, Qora71 has since been acquired by the DFSA-regulated platform Stryde. Rebranded as Stryde71, it now operates as a venture capital and deal syndication arm within a broader private markets platform.
AlDhaheri said such developments reflect a wider "ripple effect" within Abu Dhabi's innovation ecosystem, where successful founders increasingly reinvest into early-stage startups and formalise their activity into structured funds.
"The group of founders within the angel networks saw Abu Dhabi as a place where they can invest with conviction," she said. "That is why they came together to unlock both investment and ecosystem support."
Jakku, one of the groups joining this year, comprises entrepreneurs from the Hub71 community who have scaled or led high-growth ventures in the MENA region and beyond.
"What we found is a group of similar-minded founders who want to back other founders," its Founder and CEO, Jaime G Banon, told Aletihad.
This founder-led structure, he noted, sets angel investors apart compared to institutional capital.
"We are closer to the founders than most of the typical investors. Why? Because at the same time, we are founders, so we have gone through the same experiences and struggles."
"Founders are the best detectors of other good founders," he added.
Jakku, which leads a sector-agnostic approach, is preparing to make its first investment in a Hub71 startup in the coming month, according to Banon.
Abu Dhabi's appeal as an investment hub, he noted, lies in both access to curated startup deal flow and the regulatory environment within ADGM.
"We have a select group of founders that we can actually look at that's already been well selected," said Banon, referring to Hub71's startup cohorts. "That work has already been done for us."
The Hub71 support package reduces friction in angel investing by offsetting SPV setup costs and enabling structured participation in early-stage deals, he added.
Pillar Angels, another group joining this year, is made up of largely C-suite and former corporate executives, targeting investments in sports tech, fintech, and B2B software.
Hub71 said it plans to onboard two additional angel groups by the end of the year, as it continues to expand its investor base.
