G42 Launches US$10 Billion Technology Growth Fund

G42 Launches US$10 Billion Technology Growth Fund

G42, a leading UAE-based AI and cloud computing technology company, announced the launch of the US$10 billion G42 Expansion Fund, a global technology growth fund formed in strategic partnership with Abu Dhabi Growth Fund (ADG).

The fund, which will be managed by a subsidiary of G42, is focused on accelerating the pace of global innovation by investing in late-stage growth companies with disruptive technologies and strong business fundamentals.

The G42 Expansion Fund will operate as a private equity investor, with a significant share of investment earmarked for high-growth regions. 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 G42 Expansion Fund’s investment priorities will span across technologies that promise to shape the global economic landscape in the next decades, such as computing and communications technologies, intelligent mobility, clean tech and renewables, digital infrastructures, new materials, multiverses, fintech, healthcare, and life sciences.

Peng Xiao

Peng Xiao, Group CEO at G42 and Chairman of the G42 Expansion Fund’s Investment Committee, commented:

“The G42 journey to date has been marked by success stories in a wide range of industries, addressing the most complex challenges faced by our customers.