• Presight and Shorooq launched a USD 100M global AI innovation fund to back ventures in smart cities, energy, fintech, and deep tech.
• The fund combines Presight’s AI expertise and Shorooq’s investment track record, offering capital, mentorship, and access to global networks.
• Targeting startups worldwide, the initiative aligns with the UAE’s push to become a leading AI hub for talent and infrastructure.

Shorooq

Abu- Dhabi based Presight and Shorooq launched a global AI innovation fund named Presight–Shorooq Fund I. The fund aims to  invest USD 100 million in the next generation of AI breakthroughs.

Founded in 2017, Shorooq is an Abu-Dhabi based multi-dimensional investment firm. Meanwhile, Presight is an Abu Dhabi-based global AI and big data analytics company. 

This fund combines a collaboration between principal investors and technology pioneers. Thus, it aims to deploy significant capital into AI ventures worldwide. Additionally, it aligns with the UAE’s goal to become a significant source of innovation and funding for the next generation of AI.  It also supports the UAE’s mission to become a hub for talent and infrastructure. 

The fund aims to support the AI ecosystem across the UAE, G42, and Presignto’s international customer network. Furthermore, it aims to support high impact ventures and propel their growth on a global stage. 

Artificial Intelligence

The fund will focus on investments that leverage AI, machine learning, and advanced data analytics to transform industries and solve pressing challenges. To do so,  it will leverage Presight’s expertise in AI and big data solutions. In addition, it will leverage Shorooq’s track record of managing capital, identifying outstanding opportunities and scaling startups. With this, it aims to bridge ecosystems in order to  connect founders from around the world with capital and mentorship. 

The fund intends to back companies at various stages that are developing AI, machine learning, and analytics solutions. Its key areas of internet include smart cities, energy, fintech, AI/ML, AR/VR, GameDev, Industry 4.0, and deep tech. 

Beyond capital, it will open doors for companies to gain access to Presight’s technical expertise and infrastructure. This includes cloud compute, GPU resources, and secure data environments. It will also enable access to Shorooq’s global network of partners, mentors, and strategic markets across MENA, Asia, and beyond.