UAE Launches $100M AI Startup Fund Targeting Global Ventures

Abu Dhabi-based Presight and Shorooq Partners have unveiled a $100 million investment vehicle aimed at accelerating artificial intelligence innovation worldwide. The Presight-Shorooq Fund 1 will target startups leveraging AI, machine learning, and data analytics across high-growth sectors including fintech, smart cities, and industrial automation.

"This initiative positions the UAE as a global nexus for AI development," stated H.E. Mansoor Al Mansoori, Vice Chairman of Presight. The fund offers more than capital—selected startups gain access to G42's distribution networks and Abu Dhabi's rapid implementation capabilities for transformative technologies.

Investment focus areas span augmented reality, gaming infrastructure, and decentralized technologies, though no specific cryptocurrency projects were named. Presight CEO Thomas Pramotedham emphasized the fund's global reach: "We're scouting from Silicon Valley to Southeast Asia for entrepreneurs building paradigm-shifting AI solutions."