Abu Dhabi-based G42 is launching a $10 billion fund to fuel its global expansion by investing in “disruptive technologies.”
The artificial intelligence firm, which is backed by Mubadala, said the fund will operate as a private equity investor, focusing on late-state growth companies in emerging markets.
“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,” G42’s group chief executive officer Peng Xiao said in a statement.
The company teamed up with the Abu Dhabi Growth Fund to launch the initiative.
The G42 Expansion Fund will prioritise investing in technologies that “promise to shape the global economic landscape in the next decades,” or in sectors including clean energy technology, digital infrastructures, metaverse, financial technology, and life sciences.
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