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MGX backs Anthropic’s USD 65 bn funding raise
Abu Dhabi AI investor MGX is among those backing Anthropic’s USD 65 bn Series H round, according to a statement. The capital raise comes just months after a USD 47 bn round in February that saw MGX first invest in the firm. Other international heavyweights like Blackstone, Greenoaks, and Temasek backed the round, as demand for Anthropic’s Claude Cowork continues to grow. Anthropic’s run-rate revenue surpassed USD 47 bn in May, up from the USD 14 bn reported in February.
IN CONTEXT- The Abu Dhabi investor is covering as many bases as possible, currently backing three major AI rivals — OpenAI, xAI, and Anthropic — and positioning itself as a neutral investor and a partner to all. MGX recently said it was looking to deploy as much as USD 100 bn annually in investments, and has since invested in UK-based Isomorphic Labs as well as OpenAI’s USD 10 bn funding round.
T-sukuk auction sees AED 4.7 bn in orders
The Central Bank of the UAE’s latest AED 1.1 bn treasury sukuk auction for May was 4.3x oversubscribed — the latest proof that investors are still long UAE, according to a statement.
The offering came in two tranches, the first priced at a 4.03% yield and set to mature in September 2027, and the second maturing in January 2031 and carrying a 4.30% yield. The yields represent a spread of 14 basis points above comparable US Treasuries, up from 10 bps in its April issuance — a signal that despite solid demand, the sovereign is still paying up to compensate for riskier paper.
ADGM greenlights Yolo’s USD 250 mn fund
Yolo Investments secures green light for USD 250 mn fund: Yolo Investments, part of Estonia-based Yolo Group, secured a license from ADGM’s Financial Services Regulatory Authority for its third private equity fund, Al Bayan reports.
The plan: The fund aims to raise USD 250 mn and will target MENA investment windows as part of the firm’s focus on crypto, fintech, and gaming.
REMEMBER- Yolo secured two gaming-related vendor licenses for two of its subsidiaries last year as a growing number of international vendors continue to secure approval for UAE operations. Megaprojects like the USD 5.1 bn Wynn Resorts casino are also putting the Emirates on the map as a gaming hub.
