Abu Dhabi-based Agthia Group has launched Agthia Ventures, a corporate venture capital fund designed to expand its innovation capabilities and create mutual value with startups.
Agthia Ventures will be funded by Agthia and its parent company ADQ to the tune of AED200 million ($54.5 million), and will be managed alongside Touchdown Ventures, a US-based company that has over 100 completed venture investments to date.
Agthia Ventures will build on Agthia’s four decades of experience. It will create a programme to help the brightest entrepreneurs in food and related industries scale their operations and accelerate their product development and market adoption, through access to its industry knowledge, distribution networks, technological infrastructure, research and development and marketing capabilities.
Touchdown’s extensive network of startups, venture capital relationships, incubators, and accelerators will provide Agthia Ventures the wherewithal to identify attractive early-stage, seed, and growth investment opportunities. The fund is stage-agnostic and will invest primarily in companies with clear product-market fit that are demonstrating revenue growth.
Agthia Group’s growth strategy
Alan Smith, Chief Executive of Agthia Group, commented: “Innovation is the lifeblood of Agthia Group and plays a vital role in our strategic vision of being a leading food and beverage company in the MENA region and beyond by 2025. In conjunction with our internal R&D initiatives, our corporate venture capital fund will give us access to cutting-edge technologies and market insights from dynamic entrepreneurs, helping to future-proof our growth.
“In turn, Agthia will offer our product, market, and distribution expertise to the entrepreneurs supported by the programme to help them succeed.”
Target investment interests include premium and ‘better for you’ snacks and beverages, functional water and hydration, alternative proteins, sustainability solutions in farming and packaging, e-commerce solutions for the food and beverage industry, and other capability enhancements relevant to Agthia’s value chain.
Scott Lenet, President and co-founder of Touchdown, added: “We believe entrepreneurs globally will be impressed by the collaborative, supportive culture of Agthia’s team and their capabilities to help a startup grow.”
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