ABU DHABI, UAE, Jan. 7, 2025 /PRNewswire/ — Abu Dhabi has announced ground-breaking initiatives to supercharge the Emirate’s soaring ‘Falcon Economy’ by providing a supportive business environment that empowers the private sector to seize opportunities and reach their full potential. 

Ranked as the World’s Richest City, Abu Dhabi is home to US$1.7 trillion in sovereign wealth fund assets and enjoys the strongest sovereign credit rating in the GCC, providing investors with unparalleled access to finance and growth opportunities. The Emirate has also been ranked 1^st in ease of doing business in the Middle East and North Africa (MENA) region.

His Excellency Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development, said: “Our remarkable economic journey is driven by a determination to build a strong, resilient, sustainable, and diversified economy. We remain committed to proactively develop frameworks and plans to find innovative solutions to current and future challenges and build a better tomorrow for generations to come”. 

H.E. Al Zaabi added: “Our Initiatives bolster ease of doing business and empower tomorrow’s business leaders; and we are doubling down our efforts to equip young generations to explore opportunities, innovate, start, and grow businesses.”

• The Abu Dhabi Registration and Licensing Authority (ADRA):

The Abu Dhabi Registration and Licensing Authority (ADRA), an arm of the Abu Dhabi Department of Economic Development (ADDED) to develop and regulate the business sector, was launched to provide a centralised registry of all businesses across Abu Dhabi’s mainland and its non-financial economic free zones. It provides a single point for regulatory reporting, ensuring compliance of economic establishments with UAE and international regulations, and offers licensing, consumer, and commercial protection services across the mainland.

• Abu Dhabi Chamber of Commerce New Roadmap:

The Abu Dhabi Chamber of Commerce and Industry’s (ADCCI), the voice of the private sector, has revealed a new roadmap for 2025–2028, to develop a prosperous, flexible, and diversified business ecosystem that fosters innovation and entrepreneurship in Abu Dhabi.

The roadmap focuses on fostering partnerships, linking companies to global markets, increasing business opportunities, advocating policies and empowering entrepreneurs and talents. ADCCI’s new roadmap for economic excellence is anchored by five core pillars- policy advocacy, market intelligence, ecosystem building, innovation, and market expansion- each playing a pivotal role in driving innovation, sustainability, and resilience.

ADCCI also launched the Abu Dhabi Family Business Council, to enhance its role in the socio-economic development by promoting sustainability, growth, and prosperity of family businesses, and ensuring their continuity across generations.

ADCCI unveiled its new brand identity, signalling a bold vision for the future and marking a strategic phase of progress.

• New Entrepreneurship empowerment initiatives 

The new strategy for the Khalifa Fund for Enterprise Development, dedicated to supporting small-to-medium enterprises (SMEs) ensures the Fund continues to provide the right support, business-boosting measures and friendly ecosystems to empower SMEs.

Central to this strategy is the launch of MZN (Arabic word for rainy clouds) Hub, an innovative concept, which utilises AI-driven solutions, to ensure an integrated, cutting-edge ecosystem that provides entrepreneurs with bespoke resources and programmes, empowering them to enhance their capabilities, ensure the success of their ventures, and sustain their growth.

Backed by government investments, MZN Hub offers access to finance, comprehensive training, and tailored mentorship, designed to enable startups to flourish. The platform has three components- Venture Studios, Light Manufacturing, and Venture Capital to ensure support in different stages of business, from ideation to growth.

About ADDED:

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The Abu Dhabi Department of Economic Development (ADDED), the catalyst for economic growth and diversification, regulates the business sector in the Emirate and leads economic initiatives to achieve a knowledge-based, diversified, and sustainable economy. ADDED adopts best policies and practices based on the latest research and statistics, devotes its efforts to elevate the development and renaissance across various sectors, and prepares strategic programs and plans by adopting the best economic and administrative practices, applying the latest technology and drawing on global expertise.

ADDED strives to improve the investment climate in the Emirate by enhancing prospects for cooperation with strategic partners and ensure principles of innovation, transparency, and knowledge-sharing are followed to strengthening the business ecosystem to enhance Abu Dhabi as preferred destination for business and investments.

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The investment will enable TONCASH to accelerate the onboarding of millions of users to its innovative crypto cashback platform and build the Web3 standard for best-price shopping.

HONG KONG, Jan. 7, 2025 /PRNewswire/ — TONCASH, the Telegram-native crypto cashback and rewards platform, has received a strategic investment from TON Ventures, the flagship venture fund of The Open Network (TON). The strategic investment will accelerate TONCASH’s mission to onboard millions of users and become the Web3 standard for best-price shopping and on-chain rewards.

Ben Usinger, CEO and Co-Founder of TONCASH, commented: “This investment deepens our collaboration with Telegram and The Open Network, empowering us to deliver the best online shopping and rewards experience for the Web3 audience. With TON Ventures’ strategic support, we’re driving the adoption of on-chain payments, engaging millions of users through innovative cashback mechanics and redefining how brands connect with customers in the Web3 space.”

Since launching its Telegram Mini App in November 2024, TONCASH has gained over 200,000 users and a large following on social media, underscoring its product-market fit and rapid growth potential.

TONCASH users enjoy deals from over 200 top brands, including Apple, Adidas, Binance, or Trip.com, offering up to 80% cashback — redeemable in Bitcoin, USDT, or TON tokens. Beyond cashback, the mini app provides perks such as airdrops and engagement rewards, all while operating seamlessly on any phone with Telegram installed.

With TON Ventures’ backing, TONCASH now pursues an aggressive expansion across Asia-Pacific, Europe, the Middle East, and Latin America, reaching Telegram’s 950-million-user base and connecting global brands to Web3 users through crypto cashback and rewards.

To join the app and benefit from its perks:

Visit: TONCASH website

Join us on Telegram

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NEW YORK, Jan. 7, 2025 /PRNewswire/ — Chronograph, provider of the world’s leading portfolio monitoring solutions for institutional private equity limited partners and general partners, announced two key hires and one executive promotion today. The additions to the team bring a wealth of experience and to enable Chronograph’s global client base to continue to realize exceptional service and value from the company’s products.

Michael Santos joins Chronograph as Global Head of Sales after a decade of sales leadership experience with DealCloud, an Intapp Company. Santos oversaw DealCloud’s growth during its rapid expansion from 2016 through 2024, helping to scale the sales function, stand up the company’s first European office, and spearhead expansion into new markets. Prior to DealCloud, Santos held client development roles with private capital technology companies iLevel and FIS Private Capital Suite (formerly FIS Investran). Santos’ perspective and experience are set to enable the continued global expansion of Chronograph.

Simultaneously, Amanda Korporaal joins Chronograph to lead Product Marketing after eight years with Clearwater Analytics as the company scaled from growth stage to post-IPO, having helped lead client, product, and demand generation marketing teams. Korporaal will play an integral role in educating the market on Chronograph’s differentiated technology and the value delivered to Chronograph’s clients.

These new hires coincide with the promotion of Andrew Kehl to Chief Client Officer, which reflects his successful leadership in overseeing multiple teams across the entire client journey. Kehl has been an invaluable resource to Chronograph since joining in 2019 and this new title reflects his ability to achieve sustainable growth of the business and its culture through a client-centric approach. Chronograph clients can expect continuous progress and accelerated realization of value to their organizations with this array of private capital technology veterans.

Chronograph Co-Founder & CEO Charlie Tafoya remarked, “We couldn’t be more excited to welcome Michael and Amanda to the team and add to our sales and marketing arsenal as we continue to expand our global presence and lead the technology transformation of private capital markets. In parallel, I would congratulate and commend Andy’s success and look forward to working alongside him in his new role as Chief Client Officer. We’re grateful for his leadership over these past 5 years and trust our clients will further maximize the impact of their Chronograph configurations. We’re very much looking forward to diving into the new year with this group.”

Santos commented, “I am incredibly excited to join Chronograph as Global Head of Sales during this transformative period for both the company and the private capital industry. As the industry evolves, demand for comprehensive, accurate, and actionable data has become absolute and a necessity for firms seeking to stay ahead in an increasingly competitive investing landscape. Chronograph is uniquely positioned to meet this need with its innovative technology and client-centric approach. I look forward to partnering with our team and clients to drive the next phase of growth, enabling smarter decision-making, and unlocking new opportunities across the industry.”

Korporaal added, “I am thrilled to join Chronograph at such a pivotal moment. This is an exciting opportunity to collaborate with a passionate team delivering cutting-edge technology and to help strengthen our brand to drive continued growth. I look forward to leveraging my background to support Chronograph’s mission to deliver best-in-class portfolio monitoring technology to investors.”

About Chronograph

Chronograph was founded in 2016 to bring differentiated technology solutions to the private capital market. The firm’s products help institutional limited partners and general partners – including many of the world’s largest private equity and venture capital investors – streamline and automate portfolio monitoring, valuations, analytics, and reporting. The firm is backed by Summit Partners, The Carlyle Group, and Nasdaq, Inc. For further information, please visit www.chronograph.pe

Fred Bower
Chronograph
New York, New York
[email protected]

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