UAE investment firm, Presight, and Abu Dhabi-based investment firm, Shorooq, have launched a $100 million global AI fund for startups in the AI industry. The fund, known as Presight-Shorooq Fund 1, will see the deployment of significant capital into AI ventures worldwide.
His Excellency Mansoor Al Mansoor, Vice Chairman of Presight, mentioned that the UAE has been seen as a trusted leader in AI development, and the world is looking to them for deployment in the field. He added that the fund will not only provide promising AI startups with capital but will also allow them to implement transformative AI solutions using the resources provided to them by the UAE.
UAE investment firm launches $100 million AI fund
The fund is expected to invest in startups with high impact, leveraging artificial intelligence, machine learning, and data analytics. The startups will be provided access to a distribution network through the UAE’s G42 and Presight’s international customer network. The key areas of interest to the fund will include smart cities, energy, fintech, AI/ML, AR/VR, game dev, Industry 4.0, and deep tech.
Thomas Pramotedham, Chief Executive Officer of Presight, said, “We’re combining Presight’s AI leadership with Shorooq’s investment acumen to fuel the next wave of AI innovation. The fund will enable us to identify and support bold entrepreneurs – from Silicon Valley to Southeast Asia – who are building AI solutions that can transform businesses and societies.”
He also mentioned that this was more than just a fund because the startups will have access to infrastructure resources and international markets. “This combination of funding, infrastructure, and distribution channels is designed to give AI companies the edge they need to scale quickly and responsibly, and that is the unique value proposition,” he added.
Mahmoud Adi, Founding Partner of Shorooq, noted that this was a defining moment for AI investment as it brings together Middle East capital and expertise to global startups. “We are not just launching a fund; we are reaffirming to the world that the Middle East is a driving force in the AI revolution. Our message is that we’re bringing not only capital but also commitment, strategic guidance, and a long-term partnership mentality,” Adi said.
This development comes one day after the UAE announced a government-backed campaign to become the startup capital of the world. The campaign seeks to attract 10,000 UAE national entrepreneurs and create 30,000 jobs within the next five years. The campaign is overseen by the Ministry of Economy and Tourism in collaboration with the UAE Government Media Office, with the participation of the UAE Council for Entrepreneurship and over 50 government and private entities, business incubators and accelerators, and academic institutions.
