Abu Dhabi joint fund seeks to attract 10 unicornss

Abu Dhabi joint fund seeks to attract 10 unicornss

The Annual Investment Meeting (AIM), which drew global investors, high-level government officials, decision-makers, and investors, entered into a strategic partnership with an investment banking firm and a fund manager to attract 10 unicorns with a target of achieving a total market capitalisation of $100 billion within five years.

The three-day investment platform, which sought to chart the global economic roadmap to Abu Dhabi, signed the tie-up with China Bridge Capital and Silicon-based NextG Tech Ltd to jointly establish a fund to attract companies with billions of capitals to Abu Dhabi.

A statement from AIM said China Bridge Capital, which has also long established its foothold in worldwide offices in Shenzhen, Beijing, Silicon Valley, and New York, has now fixed its sights on doing the same in the UAE through the “Abu Dhabi Billionaire Business Attraction Fund,” which aims to attract global next-generation unicorns into the country, in particular to Abu Dhabi.

“The fund seeks to promote global sustainability alongside its vision to create 10,000 jobs in three years and bring this number up to 30,000 in a five-year period,” the statement said.

“Through the fund’s Global Mobilenergy Ecosystem, which is supported by institutional LPs (Limited Partners) as well as with our partnership with AIM,