Technology growth

G42 launches US$10 billion tech growth fund


Abu Dhabi, United Arab Emirates: G42, the leading artificial intelligence and cloud computing technology company based in the United Arab Emirates, today 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, focuses on accelerating the pace of global innovation by investing in late-stage 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 going to high-growth regions. In addition to providing investment support, the G42 will leverage its operating assets and ecosystem of operating companies to accelerate value creation across the G42 Expansion Fund’s investment portfolio. .

The investment priorities of the G42 Expansion Fund will extend to technologies that promise to shape the global economic landscape over the coming decades, such as information and communication technologies, smart mobility, clean technologies and energies. renewables, digital infrastructure, new materials, multiverses, fintech, healthcare, and life sciences.

Peng Xiao, CEO of G42 Group and Chairman of the G42 Expansion Fund Investment Committee, said, “G42’s journey to date has been marked by successes across a wide range of industries, meeting the challenges the most complex ones faced by our customers. With the foundation built by our operating businesses and the support of our strategic partner ADG, the next era of G42 will be marked by our ability to energize new businesses around the world. With the G42 Expansion Fund, we aim to accelerate our global impact not only by deploying capital, but also by providing unique access to our networks, management and operational assets to our portfolio companies. We look forward to engaging with pioneering entrepreneurs who share our core values ​​and ambitions for growth, and we are excited to partner with ADG to further solidify Abu Dhabi as a global hub of innovation and progress.

Khalifa Al Suwaidi, CEO of ADG and member of the investment committee of the G42 Expansion Fund, said: “As a growth-oriented investor, we are very happy to have a technology investment partner. in the G42 who has deep knowledge of emerging technologies combined with the operational requirements for global growth and value creation. By supporting both innovation and strong management teams within well-organized companies, the G42 Growth Fund fits perfectly into our investment strategy. We look forward to partnering with G42 as we continue to develop our strategy of partnering with high quality fund managers capable of delivering first quartile financial returns over the long term.

Egon Durban, Co-CEO and Managing Partner of Silver Lake and G42 Board Member, said, “The launch of the G42 Expansion Fund is an important milestone in the growth of the UAE’s technology ecosystem. united as a pioneering engine of innovation and entrepreneurship on a global scale. Additionally, it underscores G42’s position as a highly respected technology company committed to developing and delivering AI and digital transformation solutions that have a positive impact in helping businesses and governments responsible and sustainable their most pressing challenges and to seize their most interesting opportunities. ”

Leveraging its fundamental and applied AI research, as well as 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, Foresight, and more. G42 also partners with a growing global network of leading international organizations in its mission to democratize access to advanced technologies for all markets around 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 artificial intelligence company; G42’s partnership with Cerebras Systems, an American team of pioneering computer architects, deep learning researchers, and engineers building a new class of computer systems purpose-built for AI; and FLYR Labs, a US-based company focused on delivering AI-powered revenue management applications for transportation leaders.

About G42

G42 is a global leader in creating visionary artificial intelligence solutions for a better future. Born in Abu Dhabi and operating around the world, the G42 champions AI as a powerful force for good. Its people are constantly reinventing what technology can do, applying advanced thinking and innovation to accelerate progress and tackle society’s most pressing problems.

The G42 is driving change in the region and beyond, partnering with nations, businesses and individuals to create the infrastructure of tomorrow’s world. From molecular medicine to space travel and everything in between, G42 realizes exponential possibilities today.

About Abu Dhabi Growth Fund

Abu Dhabi Growth Fund is a sovereign investment fund created by the ADQ in July 2021 with a mandate to pursue a differentiated investment strategy to generate high financial returns. In line with its core mandate of growth, ADG invests primarily in private equity and venture capital by partnering with top fund managers and leading entrepreneurs and businesses around the world. ADG has an agile approach to investing, with a seasoned team that brings decades of successful investment experience and unique networks across asset classes, sectors and geographies.


Legal disclaimer: MENAFN provides the information “as is” without warranty of any kind. We assume no responsibility for the accuracy, content, images, videos, licensing, completeness, legality, or reliability of any information in this article. If you have any complaints or copyright issues related to this article, please contact the provider above.