256 Network signs MoU with Abu Dhabi Global Market

The 256 Network has signed a memorandum of understanding (MoU) with Abu Dhabi Global Market (ADGM), Abu Dhabi's international financial centre.

256 Network is an invite-only platform that brings together global decision-makers investing in private markets. It constitutes over 650 members across 30 countries.

According to a press release, the MoU was signed on the sidelines of Abu Dhabi Finance Week, which witnessed conversations around MENA's financial sector, industry trends, developments, and innovations involving financial markets and global banking.

With this, 256 Network and ADGM will collaborate on developing India and UAE's startup ecosystems, facilitating cross-border innovation and collaboration.

Dhruv Sehra, Founder & CEO of 256 Network, said: "The MoU signifies a vital milestone in international cooperation between the two entities. It will facilitate mutual assistance to strengthen the supervision of cross-border operations of financial institutions under their purview."

Arvind Ramamurthy, Chief of Markets of ADGM, said: "This step is especially important as we witness the continuous growth and expansion of the financial market in Abu Dhabi and the UAE. Strengthening ties with international industry leaders is at the forefront of our strategy and we are looking forward to working with our partners in India to create more investment opportunities and develop a robust business ecosystem. We will continue to work with our strategic partners, locally and internationally, to further Abu Dhabi and the UAE's economic development plans and achieve greater investor trust, accessibility and ease of doing business in Abu Dhabi and beyond."

The Group also announced the launch of their Emerging Fund Manager Fellowship where 256 Network will facilitate access, fund them, and help global first and second-time fund managers in launching their funds.

It is designed for fund managers working on investment vehicles in venture capital and private equity. As per the release, they will be able to leverage ADGM's expertise and access to gain a competitive edge while launching their funds.