Abu Dhabi-based AI and big data analytics company Presight has partnered with leading investment firm Shorooq to announce the launch of a $100 million global AI innovation fund. The new fund, named Presight–Shorooq Fund I, is based in the Abu Dhabi Global Market (ADGM) and aims to invest in the next generation of AI breakthroughs across the world, further cementing the UAE’s position as a central hub in the global AI ecosystem.
A Strategic Vision for Abu Dhabi’s AI Leadership
The launch of the fund represents a significant step in Abu Dhabi’s strategy to become a global leader in AI development and deployment. The collaboration between Presight, a major technology pioneer, and Shorooq, a seasoned investment manager, creates a powerful vehicle to attract and nurture top-tier AI ventures. The fund’s establishment in the ADGM underscores the UAE’s commitment to providing a world-class regulatory and financial environment for innovation.
His Excellency Mansoor Al Mansoori, Vice Chairman of Presight, commented on the initiative, stating, “Abu Dhabi stands at the forefront of global AI innovation, and the world increasingly looks to the UAE as a trusted leader in AI development and deployment. The Presight–Shorooq Fund is a strategic extension of this vision. With it, we are ushering in a new era where the most promising AI startups from around the world will not only seek capital from Abu Dhabi but also tap into the UAE’s unmatched ability to rapidly implement transformative AI solutions for the benefit of our communities.”
Fusing Capital with Technical and Market Access
A key differentiator for the Presight–Shorooq Fund I is its commitment to providing more than just capital. Portfolio companies will gain unique access to Presight’s advanced technical infrastructure, including cloud computing, GPU resources, and secure data environments. This is complemented by access to an extensive distribution network through the G42 ecosystem and Presight’s international customer base, offering a clear path to market and scale.
“This is more than just a fund; what differentiates the fund from others is that beyond just the capital, the Portfolio companies can benefit from having access to our infrastructure resources, and most importantly our international markets and customers,” said Thomas Pramotedham, Chief Executive Officer of Presight. Mahmoud Adi, Founding Partner of Shorooq, added, “This partnership is a defining moment for AI investment — uniting capital and expertise from the Middle East with world-class innovators globally. We are not just launching a fund, we are reinforcing to the world that the Middle East is a driving force in the AI revolution.”
Global Mandate with a MENA Nexus
The fund will target investments in companies at various stages that are leveraging AI, machine learning, and advanced data analytics to solve major challenges. Key sectors of interest include smart cities, energy, fintech, AR/VR, GameDev, Industry 4.0, and deep tech. While the fund has a global mandate to seek out visionary founders from Silicon Valley to Southeast Asia, it aims to bridge these ecosystems with the strategic capital and mentorship available in the UAE, propelling their growth on a global stage from a MENA-based nexus.
About Presight
Presight is an ADX-listed public company with Abu Dhabi-based G42 as its majority shareholder and is a leading global AI and big data analytics company. It combines big data, analytics, and AI expertise to serve every sector, of every scale, to create business and positive societal impact. Presight excels at all-source data interpretation to support insight-driven decision-making that shapes policy and creates safer, healthier, happier, and more sustainable societies. Today, through its range of AI-driven products and solutions, Presight is bringing Applied Intelligence to the private and public sector, enabling them to realize their AI strategy and ambitions faster.
About Shorooq
Founded in 2017, Shorooq is a multi-dimensional investment firm. Our venture capital and credit practice invests in the most innovative technology companies across the MENA region and beyond. We have built deep sectoral expertise in fintech, platforms, software, and deep tech. Shorooq has backed category leaders such as Pure Harvest Smart Farms, Nymcard, Tamara, Sarwa, Lean Technologies, TruKKer, Mozn and Lendo. Shorooq was built on the values of building with founders and identifying attractive returns for investors. We pride ourselves on a local presence across the UAE, Saudi Arabia, Egypt and Korea.
Source: Zawya
