UAE-based AI and cloud computing tech platform G42 launches $10 billion expansion fund

Oluwajuwonlo Afolabi -

G42, a UAE-based AI and cloud computing company, has launched a $10 billion expansion fund in partnership with Abu Dhabi Growth Fund, to invest in high-impact businesses with strong technological innovations.

  • The Fund will be managed as a private equity investor and deployed across sectors, including computing and communication technologies, intelligent mobility, clean tech and renewables, digital infrastructures, multiverses, new materials, fintech, health care, and life sciences.
  • G42 will also provide unique access to its networks, management, and operational assets to its portfolio, alongside deploying capital to them.
  • Founded in 2018, G42 is an Abu Dhabi-born AI solution and cloud computing company contributing to the development of AI industries in the government sector, healthcare, finance, oil and gas, aviation, and hospitality among others.
  • It has invested in and partnered with Oxford Nanopore, 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 architects, and FLYR Labs, a US-based company focusing on AI-enabled applications for mobility leaders, and others.