Presight, a global leader in artificial intelligence and big data analytics, has teamed up with Shorooq, an Abu Dhabi-based investment firm licenced by the Financial Services Regulatory Authority, to launch a $100 million global innovation fund focused on artificial intelligence (Presight – Shorooq I). This fund aims to invest in the next generation of AI innovations.
The signing ceremony for the fund’s launch was attended by Mansour Al Mansouri, Vice Chairman of Presight, who stated, “Abu Dhabi has established itself at the forefront of global innovation in artificial intelligence, and the world now looks to the UAE as a leading and reliable destination for the development and application of AI technologies. The ‘Presight – Shorooq I’ fund is a strategic extension of this vision, as we aim to empower promising AI startups from around the globe. This involves not only sourcing capital from Abu Dhabi but also leveraging the unique capabilities of the UAE to accelerate the implementation of transformative AI solutions that benefit our communities. By connecting ambitious entrepreneurs with strategic capital, advanced infrastructure, and a rapidly adopting AI market, we enhance innovation and solidify the UAE’s position as a global hub for technology, investment, and impact.”
The fund’s establishment is the result of a significant collaboration between key investors and technology pioneers, with the goal of making substantial investments in AI companies worldwide. The fund’s foundation in the Abu Dhabi Global Market underscores the UAE’s leading role in the global AI ecosystem, not just as a source of innovation and funding, but as a center for talent and infrastructure.
This fund will focus on investments that leverage AI, machine learning, and advanced data analytics to drive transformative changes in industries and address pressing challenges. Utilizing Presight’s extensive expertise in AI and big data solutions alongside Shorooq’s exemplary track record in capital management and startup scaling, the ‘Presight – Shorooq I’ fund will connect global entrepreneurs with regional capital and strategic mentorship.
‘Presight – Shorooq I’ will offer extensive distribution channels across the UAE ecosystem and the client network of G42 and Presight globally. Whether it’s an AI-driven fintech platform in New York, energy startups in London, or smart city solutions in Singapore, the fund aims to support impactful projects and promote their global growth.
In this context, Thomas Brahmutham, CEO of Presight, remarked, “With the launch of this fund, we are combining Presight’s leadership in AI innovations with Shorooq’s investment expertise to spearhead the next wave of innovation. The fund will help us identify and support entrepreneurial leaders from Silicon Valley to Southeast Asia who are building AI solutions capable of driving real transformations in businesses and communities. Importantly, this fund is distinguished from others not only by its funding capabilities, but through enabling companies to benefit from our infrastructure, resources, and international markets. The blend of funding, infrastructure, and distribution channels provides AI companies with the competitive edge necessary for rapid and responsible expansion, which is the unique value we offer.”
Mohamed Oadi, co-founder of Shorooq, stated, “This partnership signifies a pivotal moment in AI investment, as we blend capital and expertise from the Middle East with leading global innovators. We are launching not just a fund, but affirming to the world that the Middle East is a driving force in the AI revolution. With our vision and capital, this fund offers a platform to empower entrepreneurs around the world, bridging East and West while showcasing the immense potential that arises when our region’s resources combine with the best global ideas. Our message is clear: wherever you are building your company, if you are using AI to address a problem in a scalable way that makes a tangible difference, we will listen to you. We provide not only funding but also commitment, strategic guidance, and a long-term partnership approach.”
The ‘Presight – Shorooq I’ fund aims to invest in companies developing innovative solutions in AI, machine learning, and analytics at various stages of their growth.
Its primary areas of interest include smart cities, energy, fintech, AI/machine learning, augmented/virtual reality, game development, Industry 4.0, and deep tech. The fund will not only provide capital but will also grant startups access to Presight’s deep expertise and infrastructure, including cloud computing, GPU-accelerated resources, secure data environments, and Shorooq’s global network of partners, mentors, and strategic markets throughout the Middle East, North Africa, Asia, and beyond.