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Shorooq backs high-profile AI startup founded by former Meta exec
Abu Dhabi-based investment manager and VC firm Shorooq Partners joined a high-profile roster of global investors pouring funds into AMILabs, the new AI venture from Meta’s former chief AI scientist Yann LeCun (LinkedIn), according to a press release (pdf). The startup closed a USD 1.03 bn round, valuing the company at roughly USD 3.5 bn pre-money. Shorooq did not disclose the size of its investment when asked by EnterpriseAM, but other big names including Nvidia and Bezos Expeditions were also involved in the funding round.
More on AMI Labs: The startup offers a range of AI solutions for different businesses, with its specialized areas including machine learning applications, predictive analytics, compute vision, and natural language processing. The startup uses “world model architectures,” which rely on spatial and real-world data as opposed to text and images, and have the potential to unlock more advanced reasoning and “shape the next generation of artificial intelligence systems,” Bilal Baloch, partner at Shorooq, told EnterpriseAM.
ICYMI- Shorooq said it was planning on increasing its AI investments this year. Its early 2026 moves include launching a USD 200 mn fund backed by the Qatar Investment Authority and choosing the first cohort for its USD 100 mn AI fund with Presight.
ICICI Prudential Asset Manager rolls out DIFC office
ICICI Asset Manager bridges India-GCC capital flows: ICICI Prudential Asset Management, one of India’s largest asset managers, rolled out its new office in Dubai International Financial Center (DIFC), targeting institutional and wealth investors across the GCC and Africa, according to Dubai Media Office. The new base will act as a hub for family offices, wealth funds, and private banks seeking exposure to Indian equities, fixed income, and multi-asset investments.
IN CONTEXT- The Middle East has been emerging as a hot investment base for India, bolstered by a raft of agreements inked earlier this year. The Abu Dhabi Investment Authority bought an undisclosed stake in ICICI Prudential Asset Management at the end of last year as part of a pre-IPO placement.
