Presight and Shorooq Launch $100M AI Innovation Fund
▼ Summary
– Presight and Shorooq have launched a $100 million global AI innovation fund to invest in AI breakthroughs worldwide.
– The fund will focus on investments leveraging AI, machine learning, and data analytics to transform industries and solve challenges.
– It aims to provide strategic capital, mentorship, and access to distribution networks across the UAE, G42, and Presight’s international customer base.
– The fund intends to back companies at various stages in fields like smart cities, energy, fintech, and deep tech.
– A key differentiator is offering portfolio companies access to infrastructure resources like cloud compute and GPU resources, alongside capital.
A significant new $100 million AI innovation fund has been launched by Presight and Shorooq Partners, marking a major commitment to advancing artificial intelligence technologies on a global scale. The Presight-Shorooq Fund I is designed to identify and support the next generation of AI breakthroughs, with a clear mandate to deploy capital into ventures that utilize artificial intelligence, machine learning, and sophisticated data analytics to drive industry transformation and address complex challenges.
The establishment of this fund within the Abu Dhabi Global Market underscores the United Arab Emirates’ growing influence as a central player in the worldwide AI ecosystem. This initiative positions the UAE not just as a source of crucial funding, but as a dynamic hub for talent, infrastructure, and practical implementation. His Excellency Mansoor Al Mansoori, Vice Chairman of Presight, emphasized that Abu Dhabi is increasingly viewed as a trusted leader in AI development. He stated that the fund represents a strategic expansion of this vision, creating a pathway for promising international AI startups to access not only capital but also the UAE’s unique capacity for rapidly deploying transformative solutions that benefit communities.
Beyond financial investment, the fund will offer strategic mentorship and access to a powerful channel distribution network spanning the UAE, G42, and Presight’s international client base. This combination is intended to bridge ecosystems, connecting visionary founders from every corner of the globe with the resources needed for rapid scaling. Whether the venture is a fintech platform in New York, an energy startup in London, or a smart city solution in Singapore, the fund aims to propel high-impact companies onto the global stage. Thomas Pramotedham, CEO of Presight, explained that the partnership merges Presight’s AI leadership with Shorooq’s investment expertise. He highlighted that the fund’s unique value proposition lies in offering portfolio companies access to infrastructure resources and international markets, providing a critical edge for rapid and responsible growth.
The fund’s investment strategy is broad, targeting companies at various development stages that are pioneering solutions in key sectors. Areas of particular interest include smart cities, energy, fintech, AI and machine learning, augmented and virtual reality, game development, Industry 4.0, and deep technology. In addition to capital, supported companies will gain entry to Presight’s technical infrastructure, including cloud computing and GPU resources, and Shorooq’s extensive network of partners and mentors across the Middle East, North Africa, and Asia.
Mahmoud Adi, Founding Partner of Shorooq, described the partnership as a defining moment that unites Middle Eastern capital and expertise with world-class global innovators. He reinforced that the initiative signals the region’s role as a driving force in the AI revolution, offering a platform to empower entrepreneurs everywhere. Adi concluded with an open invitation, stating that the fund seeks out companies solving significant problems with scalable AI, promising not just capital but a long-term partnership built on commitment and strategic guidance.
(Source: Economy Middle East)
