G42 Announces $10 Billion Growth Fund For Tech, AI
G42 and Abu Dhabi Growth Fund have established a $10 Billion fund for tech companies, including those with a big focus on AI and machine learning.
Created on August 18|Last edited on August 18
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G42 has announced the launch of a $10 billion growth fund dedicated to "late-stage growth companies with disruptive technologies and strong business fundamentals" positioned in key areas of the tech sector, including areas such as autonomous vehicles, healthcare sciences, and financial tech.
AI and machine learning play a large role in the target industries, and with G42's own company focus on AI and track record of funding AI companies, businesses that work with AI can potentially look forward to some nice funding.
A significant portion of the fund is dedicated towards funding businesses in high-growth regions. This fund was created in collaboration with Abu Dhabi Growth Fund, though a subsidiary of G42 will manage it.
G42 will also dedicate it's own cloud computing technologies in support of growing businesses alongside the money injections facilitated through the new fund.
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