How Middle East Is Investing Seriously in Late Stage Tech Growth Companies
Disruptive technologies are here to stay, and the Middle east is heavily investing in them as of now. Focus is to put your money into late-stage growth companies, especially those that are invested into artificial intelligence.
The forerunner here is Abu Dhabi based Group42 cloud computing and artificial intelligence company that is investing heavily into emerging technology in high-growth regions across the globe. The company has an impressive shareholders like Abu Dhabi’s sovereign fund Mubadala Investment Company and Silver Lake, among others. It is now setting up the new investment vehicle in partnership with government-owned Abu Dhabi Growth Fund.
The new fund, it is confirmed will operate as a private equity investor, with a significant share of investment earmarked for high growth regions that have strong business fundamentals. The company is going an extra mile on each front. “In addition to providing investment support, G42 will leverage its operational assets and ecosystem of operating companies to accelerate value creation across the G42 Expansion Fund’s portfolio of investments,” the company said.
The fund’s investment priorities will cover technologies that have the potential “to shape the global economic landscape in the next decades.”
Mubadala’s association with G42 has significant reasons behind it. In November 2020, it became an investor by integrating its Injazat and Khazna Data Centres into the company. In 2022, the Abu Dhabi company also secured a ‘substantial’ investment from US-based private equity manager Silver Lake, whose managing partner and co-chief executive Egon Durban joined G42’s board as part of the deal.
It is commendable that G42 owns and operates the world’s 26th-most powerful supercomputer and is carrying out high-level fundamental and applied research into AI as well as developing cloud computing for the most demanding use cases. It is committed to the cause of new-age technology.