G42 Launches $10 Billion Technology Investment Fund

G42 Group, the UAE-based holding company specializing in artificial intelligence and cloud computing technology, has announced the launch of an expansion investment fund to promote technological growth worldwide, valued at $10 billion, in partnership with the Abu Dhabi Growth Fund.

The investment fund, which will be managed by a subsidiary of the “G42” group, focuses on accelerating the pace of global innovation by investing in a group of companies in the advanced stages, which contain innovative technologies and have strong and solid own business foundation.

The G42 Expansion Fund acts as a private equity investor within these companies, with a large portion of the investment allocated to regions experiencing significant growth.

In addition to investment support, the group will take advantage of its operating assets and system of operating companies to improve the value provided to the companies that will be included in the fund’s investment portfolio.

The Fund places various technologies among its investment priorities that contribute to building and developing the future of the global economy in the coming years, such as computer and communication technology, smart mobility, environmentally friendly technology and renewable energy sources, digital infrastructure, new materials, virtual worlds , financial technology, and healthcare, and life sciences.

Peng Xiao, CEO of G42 Group and Chairman of the Investment Committee of the new expansion investment fund, G42, said: “The J42 Group’s journey to date has resulted in many success stories across various sectors, which have contributed to addressing some of the toughest challenges we face. With the solid foundations laid by our group’s business and the support of our strategic partner, the Abu Dhabi Growth Fund, the next phase of G42’s operations will culminate in our ability to enable and deliver promising startups around the world. unleashed .

He added, “The G42 Expansion Fund reflects our efforts to accelerate and enhance our global footprint by not only providing capital to promising companies, but also by providing unique access to our networks and the administrative and operational assets of our group of companies. We look forward to networking and collaborating with leading entrepreneurs who share our commitment to the same values ​​and principles and the same ambition for continued growth, and we are very excited about our partnership with the Abu Dhabi Growth Fund to contribute to the consolidation of Abu Dhabi’s position as a global center for innovation and development.”

Khalifa Al Suwaidi, CEO of the Abu Dhabi Growth Fund and a member of the investment committee of the new expansion investment fund G42, said: “Given our position as an investment body focused on development, we are pleased to join the G42 group to collaborate. , representing an investment partner characterized by deep knowledge of emerging technologies and operational growth requirements for global growth and value creation.

He added, “The G42 fund is the most suitable option for our investment strategy, as it provides support to the innovation and management team within well-regulated companies.

We look forward to working with the G42 group in line with our ongoing efforts to support our strategy of building strategic partnerships with fund managers who have strong economic fundamentals to achieve the best long-term returns.”

Egon Durban, co-CEO and managing partner of Silver Lake and a member of the G42 Group’s board, said: “The launch of the new G42 investment fund represents an important milestone in the growth of the technology ecosystem in the UAE as a leading driver of innovation and entrepreneurship at the global level.This move positions G42 as a trusted technology group committed to pioneering efforts to develop and provide solutions in the field of artificial intelligence and digital transformation, aiming to to help companies and governments meet the most pressing challenges in a responsible and sustainable manner and seize the unique opportunities available to them.”

G42 develops high-impact technological solutions using its capabilities in the field of cloud computing and its basic and applied research in the field of artificial intelligence, with the aim of finding solutions to the world’s most complex problems, supported by a strong and diversified business portfolio that includes Data Company, G42 Healthcare and G42 Smart Nation. , G42 Cloud, Achievements, Safe, Precite, and more. The G42 also works with a growing group of world-class organizations, committed to its mission of providing access to the latest technology to everyone in the world’s markets.

Follow our latest local and sports news and the latest political and economic developments via Google News



Leave a Comment