ABU DHABI, United Arab Emirates–(BUSINESS WIRE)–The Abu Dhabi Investment Office (ADIO) Innovation Program is partnering with pioneering FinTech company Liquidity Group, the first Israeli company to join the AED 2 billion (USD 545 million) program. The partnership will support Liquidity Group’s establishment of an R&D center in Abu Dhabi to develop its proprietary technology-enabled insurance algorithm and other financial solutions.
The partnership agreement was signed by Eng. Abdulla Abdul Aziz AlShamsi, Acting Director General of ADIO, and Ron Daniel, CEO of Liquidity Group, during Abu Dhabi Finance Week (ADFW) 2022. Hosted by Abu Dhabi Global Market (ADGM), an international financial center in the UAE capital, ADFW brings together a global audience of decision makers and industry leaders to accelerate the transformation of finance in the emirate.
Ron Daniel, CEO of Liquidity Groupsaid: “In addition to the personal thrill of fulfilling the Abraham deal in real life and growing networks, friendships and partnerships in the UAE, I have always believed that the UAE and ADGM, in particular, are the best places in the world to scale technology companies. Thanks to our partners in ADIO, our new R&D center in ADGM is growing rapidly and is quickly being populated with some of the best global minds. We look forward to expanding our partnership with ADIO to the benefit of all UAE technology. ”
Through the innovation program, ADIO will support Liquidity Group in initiatives that build machine learning capabilities in Abu Dhabi. The company’s R&D center will focus on developing its Machine Learning-enabled LendTech solutions for its underwriting business. It will also build a Center of Excellence of Enterprise Machine Learning that supports other startups in Abu Dhabi in applying Liquidity Group’s modeling methods. In addition, it will partner with Abu Dhabi-based universities to develop educational training programs and certifications focused on machine learning.
Liquidity Group will establish its R&D center at ADGM, which offers a business-friendly and comprehensive regulatory environment with an advanced infrastructure for financial services. The partnership strengthens the UAE capital’s position as a leading financial hub, home to some of the world’s largest sovereign wealth funds, a thriving stock exchange and an award-winning international financial centre.
Founded in 2018, Liquidity Group is a pioneering technology firm that has become the industry’s fastest-growing lender to mid-market, late-stage companies by automating the entire debt lending cycle. The firm’s patented machine learning and decision science technology has enabled the firm to deploy more capital through more deals faster than any firm in capital markets history.
ADIO has awarded Liquidity Group competitive financial incentives and will support the company with non-financial incentives throughout the partnership. With Liquidity Group’s expansion into Abu Dhabi, it will also benefit from the emirate’s extensive R&D support network, access to local talent and a time zone that favorably overlaps global markets.
Meadow. Abdulla Abdul Aziz AlShamsi, Acting Director General of ADIO, said: “Liquidity Group makes a strong addition to Abu Dhabi’s financial services ecosystem, bringing its robust expertise in Machine Learning to expand the venture finance landscape. With a focus on locally relevant and globally exportable solutions, the technology developed in the emirate will help support startups in Abu Dhabi and the region. ADIO’s partnership with Liquidity Group also serves to deepen the relationship between the UAE and Israel, as the two markets pursue innovation-driven technologies and activities with far-reaching impact.”
Dhaher bin Dhaher Al Mheiri, CEO of ADGM Registration Authority said: “ADGM is thrilled to be the destination of choice for a promising R&D center specialized in driving innovation in new age finance and offering this emerging sector a unique ecosystem to grow and thrive. On this occasion, we would like to congratulate Liquidity Group to join ADIO’s innovation program and benefit from this strategic funding that will strengthen the group’s expansion plans in research and development.We at ADGM will continue to support the efforts of ADIO to reinforce the role of Abu Dhabi as a growing hub for R&D and knowledge building in line with the emirate’s vision of achieving a diversified economy.”
Liquidity Group is the first Israeli company to be supported through the innovation program and represents a milestone for the relationship between Abu Dhabi and Israel since the historic signing of the Abraham Agreement. The partnership furthers ADIO’s efforts to promote cooperation between the two markets.
ADIO established an office in Tel Aviv in 2021 to support innovative Israeli companies wishing to establish and expand their operations in the UAE capital.
About Abu Dhabi Investment Office
The Abu Dhabi Investment Office (ADIO) is the government entity responsible for attracting and facilitating investment in the Emirate of Abu Dhabi. ADIO enables opportunities for innovative investors and businesses of all sizes, facilitating connections across Abu Dhabi’s innovation ecosystem to help them establish and grow in the emirate. With a comprehensive range of tailored services and incentives, ADIO helps companies achieve long-term, sustainable success in the market and throughout the region.
About Abu Dhabi Global Market (ADGM)
Abu Dhabi Global Market (ADGM) is the International Financial Center (IFC) in the capital of the United Arab Emirates, which opened for business on 21 October 2015. ADGM reinforces Abu Dhabi’s position as a leading financial center and business center that serves as a strategic link between the growing economies of the Middle East, Africa and South Asia and the rest of the world.
ADGM operates within an international regulatory framework based on the direct application of The English Common Law, and governs the entire Al Maryah Island, which is designated as the economic free zone of Abu Dhabi.
ADGM is ranked as one of the most preferred top IFCs in the Middle East and Africa region and named MENA’s largest Fintech hub. Its progressive and inclusive business ecosystem gravitates towards global financial and non-financial institutions while leveraging synergies between ADGM and multiple jurisdictions positioned as one of the world’s most advanced, diverse and progressively managed financial hubs.
For more information about ADGM, please visit www.adgm.com or follow us on Twitter and Instagram: @adglobalmarket and LinkedIn: @Abu Dhabi Global Market (ADGM)
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About Liquidity Group
Founded in 2018, Liquidity Group is a pioneering technology firm that has become the industry’s fastest-growing lender to mid-market, late-stage companies by automating the entire debt lending cycle. The firm’s patented machine learning and decision science technology has enabled the firm to deploy more capital through more deals faster than any firm in capital markets history. Backed by top financial institutions including Apollo (NYSE:APO) and MUFG (NYSE:MUFG), Liquidity Group provides growth capital through funds focused on the US, Asia-Pacific, Europe and the Middle East. Liquidity Group’s subsidiary, Singapore-based Mars Growth Capital, and its partner MUFG [MUFG:NYSE] jointly manage the company’s operations in Southeast Asia. For more information, please visit: www.liquiditygroup.com.
