What's going on with Abu Dhabi's AI firm G42?

Image Credit: Supplied Abu Dhabi: The Abu Dhabi-based AI firm G42, which counts Mubadala Investment Co. and Silver Lake as its backers, is setting up a $10 billion fund with a focus on tech investments in emerging markets. The entity will be formed in partnership with the Abu Dhabi Growth Fund, set up by state-controlled ADQ last year.

What is Abu Dhabi Growth Fund (G42)?

The new fund “is an important milestone in the growth of the UAE’s technology ecosystem,” Durban said in a statement. Abu Dhabi Growth Fund, a partner in the G42 venture, invests primarily in private equity and venture capital.

Does Mubadala invest in G42?

Mubadala Investment Co., an Abu Dhabi wealth fund that owns a minority stake in G42, has itself stepped in to invest in the sector amid a recent rout. For its part, G42 has been building out its investment team with key hires from Abu Dhabi sovereign funds over the past year.