Abu Dhabi AI Firm Sets Up $10 Billion Fund for Tech Deals (1)

Abu Dhabi-based artificial intelligence firm G42, backed by a key member of the oil-rich emirate’s ruling family, is setting up a $10 billion fund with a focus on technology investments in emerging markets.

The entity will be formed in partnership with the Abu Dhabi Growth Fund, which was set up by state-controlled ADQ last year. Both G42 and ADQ are part of a business empire overseen by United Arab Emirates national security adviser Sheikh Tahnoon Bin Zayed.

The G42 Expansion Fund will target late-stage growth companies with disruptive technologies. It will operate as a private equity investor, with a ...