UAE’s Presight has partnered with the Abu Dhabi investment fund Shorooq to launch Presight–Shorooq Fund I – a global AI innovation fund that plans to invest up to US$100 million in the next generation of AI breakthroughs.
The fund will focus on investments that leverage artificial intelligence, machine learning, and advanced data analytics to transform industries and solve pressing challenges.
Shorooq is regulated by the FSRA as Fund Manager, while Presight is UAE’s global AI and big data analytics company, making the fund a unique collaboration between principal investors and technology pioneers.
Backed by Presight’s deep domain expertise in AI and big data solutions, and Shorooq’s track record of managing capital, identifying value-accretive opportunities and scaling startups, the fund aims to bridge ecosystems – connecting visionary founders from around the world with strategic capital and mentorship.
An important differentiator will be access to a channel distribution network across the ecosystem of the UAE, G42 and Presight’s international customer network. Whether it’s a fintech AI platform in New York, energy startup in London, or a smart city solution in Singapore, the fund aims to support high-impact ventures and propel their growth on a global stage.
The establishment of this fund in the Abu Dhabi Global Market symbolises the UAE’s leadership role in the global AI ecosystem, not only as a vital source of innovation and funding for the next generation of AI, but as a hub for talent and infrastructure.
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