Artificial Intelligence/VC: G42, The Abu Dhabi AI Firm, Forms $10B Fund For Tech Investments In Emerging Markets

https://dailyalts.com/wp-content/uploads/2022/08/IMG-20211125-WA0022.jpg

The G42 Expansion Fund will operate as a private equity investor.

G42, the Abu Dhabi-based artificial intelligence firm, announced the launch of the $10 billion G42 Expansion Fund to invest in late-stage growth companies with disruptive technologies and strong business fundamentals. The fund is being set up in partnership with the Abu Dhabi Growth Fund, an arm of the state-owned ADQ, and will be run by a G42 subsidiary. US private equity firm Silver Lake is an investor in G42. (G42)

G42 has recently partnered or invested in:

  • Oxford Nanopore Technologies, a UK-based DNA-sequencing specialist
  • Beyond Limits, a US-based industrial and enterprise-grade artificial intelligence company
  • 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
  • FLYR Labs, a US-based company focused on delivering AI-powered revenue management applications for transportation leaders

According to Bloomberg, both G42 and ADQ belong to the business empire of Sheikh Tahnoon Bin Zayed, United Arab Emirates national security adviser.

Abu Dhabi is in the midst of efforts to diversify its oil-focused economy into other sectors such as technology.

Accordingly, the G42 Expansion Fund will seek opportunities in technologies that include computing and communications, intelligent mobility, clean tech and renewables, digital infrastructures, new materials, multiverses, fintech, healthcare, and life sciences.

“With the G42 Expansion Fund, we aim to accelerate our global impact not only through the deployment of capital, but also by providing unique access to our networks, management, and operational assets to our portfolio companies,” said Peng Xiao, Group CEO at G42 and Chairman of the G42 Expansion Fund’s Investment Committee.

“We look forward to partnering with G42 as we continue to build on our strategy of partnering with high-quality fund managers that can deliver top-quartile financial returns over the long-term,” said Khalifa Al Suwaidi, ADG CEO and Member of the G42 Expansion Fund’s Investment Committee.

Related Story: Mubadala Investing In The Ecosystem Around Crypto, Says CEO

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2022/09/Breeding-Black-Soldier-Flies©ParisTsitsosforLivinFarms-scaled.jpg
Venture Capital: LIVIN Farms, A Provider Of Bugs On Subscription, Raises €6M Series A

LIVIN Farms, an industrial technology provider in the alternative protein industry, has developed HIVE PRO, a fully automated process that allows waste management companies and large scale food producers to…

https://dailyalts.com/wp-content/uploads/2022/09/gavel-gbf1ca5f08_640.jpg
Digital Assets: Sam Bankman-Fried’s FTX US Wins Auction For Voyager Digital’s Bankruptcy Assets With $1.4B Bid
September 28, 2022     Digital Assets, News

West Realm Shires Inc., dba FTX US, has won the bankruptcy auction for the assets of Voyager Digital with a bid of about $1.422 billion. It was held to be…

https://dailyalts.com/wp-content/uploads/2022/09/alex-knight-B0-kMa8BgU-unsplash.jpg
Artificial Intelligence: Clearview Nabs Patent For Technology That Creates Bias-Free Algorithms

Clearview AI announced its win of the “Scalable Training Data Preparation Pipeline And Efficient Distributed Trainer For Deep Neural Networks In Facial Recognition” patent (U.S. Patent No. 11,443,553) issued by…

https://dailyalts.com/wp-content/uploads/2022/09/UN17SDGs.jpg
Alternative Investments/ESG: The Newday Sustainable Development Equity ETF

Newday offers portfolios addressing the world’s most pressing environmental and social issues including climate action, ocean health, clean water, diversity, equity and inclusion, wildlife conservation and animal welfare, and stakeholder…