Abu Dhabi AI Firm Opens $10 Billion Fund for Tech Deals

Abu Dhabi Growth Fund is a partner in G42 Ventures. It invests mainly in venture capital and private equity. According to the website, Khalifa Al-Suwaidi, who was the chief investment officer at ADQ, the fund has a unique risk profile that complements existing Abu Dhabi sovereign wealth funds.

Tech Deals

Sheikh Tahnoon is a brother to the UAE president and has been at the forefront of many of Abu Dhabi’s recent technology investments. His interests include the Royal Group and ADQ. Both entities recently contributed money to a fund that SoftBank Group’s Rajev Misra created.

Continue reading: One the Biggest-Ever Technology Funds Gets Support from UAE Royal’s Company

G42 is an AI and cloud computing company with operations that span energy, healthcare, and autonomous vehicles. It formed a joint venture with Beijing’s Sinopharm last year, which marked the first overseas production of the Chinese coronavirus vaccination.

After the nations normalized ties through the Abraham Accords, Emirati opened the first Israel office. It also launched the Middle East’s first driverless car trials.

Peng Xiao, G42 CEO, stated in a statement that the G42 Expansion Fund aims to accelerate our global impact through the deployment of capital but also by providing unique access to our networks, management, and operational assets to portfolio companies.

Peng Xiao, who will be the chairman of the investment committee for the new fund, will also include Al Suwaidi from Abu Dhabi Growth Fund.