Arabian Gulf Investment and Green Harbor to launch a USD 500 mn fund that targets tech-based sectors

Arabian Gulf Investment, Green Harbor to set up USD 500 mn fund: Abu Dhabi-based investment firm Arabian Gulf Investment partnered with China’s Green Harbor Investment to establish an investment fund with an initial capital of USD 500 mn, Gulf News reports.

Where will the money go? The new fund will focus on local and global IPOs, prioritizing sectors such as advanced technology, AI, and robotics. It will also target pre-IPO prospects and private investment in public shares of high-growth tech companies.

In focus: The fund will focus on AI and robotics, covering computing infrastructure and hardware — AI chips, AI-optimized data centers, and high-speed networks — alongside AI applications, including agents, consumer devices, AIGC tools, and vertical software. It also targets end-product and service robots, collaborative robots for safe human-machine interaction in manufacturing, delivery, warehousing, and enabling technologies via core software.

UAE investors have been committing bns towards AI funds this year: G42-backed data analytics firm Presight and investment firm Shorooq Partners launched a USD 100 mn global fund to back AI ventures worldwide. Abu Dhabi’s AI fund MGX also plans to invest USD 8-10 bn a year in AI infrastructure and companies; taking over Aligned Data Centers alongside BlackRock for USD 40 bn, acquiring a stake in TikTok, and planning to invest USD 30-50 bn in a data center and AI campus in France.