Abu Dhabi-based G42 raises $10 billion to fuel global expansion through investments in ‘disruptive technologies’.
The fund will operate as a private equity investor and focus on growth companies in emerging markets.
The artificial intelligence firm, which is backed by Mubadala, said the fund will operate as a private equity investor, focusing on late-stage 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 prioritizes investments in technologies that “commit to shape the global economic landscape for decades to come” or areas such as clean energy technology, digital infrastructure, the metaverse, financial technology, and life sciences.
