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UAE AI firm launches $10 billion fund

abudhabirealestate

Arabian Post Staff

G42, the leading UAE-based AI and cloud computing technology company, announced the launch of the US$10 billion G42 Expansion Fund, a global technology growth fund formed in strategic partnership with Abu Dhabi Growth Fund (ADG). The fund, which will be managed by a subsidiary of G42, is focused on accelerating the pace of global innovation by investing in late-stage growth companies with disruptive technologies and strong business fundamentals.

The G42 Expansion Fund will operate as a private equity investor, with a significant share of investment earmarked for high growth regions. In addition to providing investment support, G42 will leverage its operational assets and ecosystem of operating companies to accelerate value creation across the G42 Expansion Fund’s portfolio of investments.

The G42 Expansion Fund’s investment priorities will span across technologies that promise to shape the global economic landscape in the next decades, such as computing and communications technologies, intelligent mobility, clean tech and renewables, digital infrastructures, new materials, multiverses, fintech, healthcare, and life sciences.

Leveraging its fundamental and applied AI research, together with its cloud computing capabilities, G42 develops high-impact technology solutions to solve the world’s most complex problems through a robust business portfolio including Bayanat, G42 Healthcare, G42 Smart Nation, G42 Cloud, Injazat, Khazna, Presight, and more. G42 also partners with a growing global network of leading international organizations in its mission to democratize access to cutting-edge technology for every market in the world.

Recent partnerships and investments in key industries include G42 Healthcare’s partnership with Oxford Nanopore Technologies, a UK-based DNA-sequencing specialist; G42’s investment in Beyond Limits, a US-based industrial and enterprise-grade artificial intelligence company; G42’s partnership with Cerebras Systems, a US-based team of pioneering computer architects, deep learning researchers, and engineers who are building a new class of computer system specifically designed for AI; and FLYR Labs, a US-based company focused on delivering AI-powered revenue management applications for transportation leaders.

 


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