Tech company Polynome Group said it plans to set up a USD 100 mn AI startup fund on the sidelines of the Dubai Centre for AI Applications and National Program for AI’s AI Retreat, Wam reports. The company submitted an application to the Dubai Financial Services Authority, and is set to go live in 1Q 2025 once the authority has signed off on the proposed structure and investment strategy of the fund.

About the fund: The fund will target 40 tech, AI software, and robotics startups in seed, series A, and growth stages, over a five-year period. Investment tickets will range between USD 500k and USD 5 mn per company.

The fund will also offer investment advisory services and technical due diligence for startups, with a team of over 100 AI and machine learning experts, data scientists, natural language processing specialists, computer vision engineers, and mentors from leading global tech companies.

SPEAKING OF THE AI RETREAT- The inaugural event will not be a one-time thing: The AI Retreat will become an annual event, with the next iteration slated for 25 April, 2025, according to a media office statement.

**This story was amended to clarify that the company is awaiting sign-off from the DFSA before it launches in 2025.

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