The Abu Dhabi Investment Office (ADIO) Innovation Programme is partnering with fintech company Liquidity Group, the first Israeli company to join the AED 2 billion (USD 545 million) programme. The partnership will support Liquidity Group’s establishment of an R&D centre in Abu Dhabi to develop its proprietary technology-enabled underwriting 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 the Abu Dhabi Global Market (ADGM), an international financial centre 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.
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 to Abu Dhabi, it will also benefit from the emirate’s extensive R&D support network, access to local talent and a time zone that favourably overlaps with global markets.
Eng. 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 grow the venture financing landscape. With a focus on locally relevant and globally exportable solutions, the technology developed in the emirate will help to 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.”
Through the Innovation Programme, ADIO will support Liquidity Group in initiatives that build Machine Learning capabilities in Abu Dhabi. The company’s R&D centre will focus on developing its Machine Learning-enabled LendTech solutions for its underwriting business. It will also build a Centre of Excellence of Enterprise Machine Learning that supports other startups within Abu Dhabi in applying Liquidity Group’s modelling methodologies. Additionally, it will engage with Abu Dhabi-based universities to develop educational training programmes and certifications focused on Machine Learning.
Liquidity Group will establish its R&D centre at ADGM, which offers a business-friendly and holistic regulatory environment with an advanced financial services infrastructure. The partnership strengthens the UAE capital’s position as a leading financial hub, which is home to some of the world’s largest sovereign wealth funds, a thriving stock exchange and an award-winning international financial centre.
Liquidity Group is the first Israeli company supported through the Innovation Programme, representing a milestone for Abu Dhabi-Israel relations since the historic signing of the Abraham Accords. The partnership furthers ADIO’s efforts to advance cooperation between the two markets.
ADIO established an office in Tel Aviv in 2021 to support innovative Israeli companies looking to establish and expand their operations in the UAE capital.