In conjunction with the Abu Dhabi Growth Fund, the Abu Dhabi-based holding company G42 Group, which specialises in cloud computing and artificial intelligence technologies, has announced the creation of a $10 billion expansion investment fund to promote global technological advancement.
By investing in a collection of advanced-stage startups with distinctive technologies and strong commercial foundations, the investment fund, which will be managed by a division of the G42 group, aims to quicken the speed of global innovation.
The G42 Expansion Investment Fund makes investments in these businesses as a private equity investor, with a large share of the investment going to areas that are expanding quickly.
The organisation will gain from its operational assets and operating business system in addition to investment support to boost the value produced to the companies in the fund’s investment portfolio.
The Fund prioritises investments in technologies, such as computing and communications technologies, smart mobility, environmentally friendly technology, renewable energy sources, digital infrastructure, new materials, virtual worlds, financial technology, health care technology, and life sciences, that will help build and develop the global economy in the upcoming years.
According to Peng Xiao, CEO of G42 Group and Chairman of the Investment Committee of the new expansion investment fund, G42, “The J42 Group’s journey thus far has resulted in several success stories across many industries, which have contributed to tackling some of the most difficult issues.”
Thanks to the strong foundations established by our group businesses and the aid of our strategic partner, the Abu Dhabi Growth Fund, the next phase of G42’s activities will culminate in our ability to launch and release new innovative initiatives throughout the world.
We are very enthusiastic about the G42 Expansion Fund and look forward to networking and working with eminent entrepreneurs that share our commitment to the same values and principles and have the same aim for ongoing expansion, he said.
Given our position as an investing organisation with a development-focused focus, we are pleased to collaborate with the G42 group, which stands for an investment partner characterised by knowledge. Deep insights into future technologies and operational needs for global growth and wealth creation were provided by Khalifa Al Suwaidi, CEO of the Abu Dhabi Growth Fund and a member of the investment committee of the new expansion investment fund G42.
A $10 billion technology fund is created by G42.
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