Artificial intelligence and big data analytics company Presight, and Abu-Dhabi based investment firm Shorooq have come together to launch a global AI innovation fund — titled Presight-Shorooq Fund I — that aims to invest $100 million in the next generation of AI breakthroughs. This fund will be deploying significant capital into AI ventures worldwide.
Vice Chairman of Presight Mansoor Al Mansoori, who witnessed the signing ceremony, said “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.”
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According to the companies, the fund will focus on investments that leverage artificial intelligence, machine learning, and advanced data analytics to transform industries and solve pressing challenges. The fund will have access to a channel distribution network across the ecosystem of the UAE, G42 and Presight’s international customer network as they plan to support high impact ventures and their growth on the global stage.
Thomas Pramotedham, CEO of Presight said, “We’re combining Presight’s AI leadership with Shorooq’s investment acumen to fuel the next wave of AI innovation. The fund will enable us to identify and support bold entrepreneurs – from Silicon Valley to Southeast Asia – who are building AI solutions that can transform businesses and societies.
“Importantly, 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. This combination of funding, infrastructure, and distribution channels is designed to give AI companies the edge they need to scale quickly and responsibly, and that is the unique value proposition.”
Meanwhile Mahmoud Adi, founding partner of Shorooq, called the partnership “a defining moment for AI investment, uniting capital and expertise from the Middle East with world-class innovators globally.”
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“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. We have the vision and capital, and through this fund we have a platform to empower entrepreneurs globally. It’s about bridging East and West and showcasing the tremendous potential that arises when our region’s resources meet the world’s best ideas,” he said.
Key areas for the fund include smart cities, energy, fintech, AI/ML, AR/VR, GameDev, Industry 4.0, and deep tech. The fund will provide not just capital, but also other perks, like access to Presight’s deep technical expertise and infrastructure—including cloud compute, GPU resources, and secure data environments—as well as Shorooq’s global network of partners, mentors, and strategic markets across the Middle East, North Africa, Asia, and beyond.
This comes at a time when companies are increasingly integrating the use of AI in their processes. AI has become an integral part of the workplace for many. However, the results have been mixed. A recent report from the MIT Media Lab found that 95% of organizations see no measurable return on their investment in these technologies. A study by Harvard Business Review, and Stanford Social Media Labs attributes this to the prevalence of “workslop,” or low-quality AI generated content.