Presight, a global AI and big data analytics company, and Shorooq, an Abu Dhabi-headquartered investment firm regulated by the FSRA as a Fund Manager, have announced the launch of a global AI innovation fund, Presight-Shorooq Fund I, which aims to invest US$100 million in emerging AI technologies.
The fund has been established through collaboration between principal investors and technology specialists and will deploy capital into AI ventures worldwide.
Its establishment in the Abu Dhabi Global Market reflects the UAE’s role in the global AI ecosystem, not only as a source of funding for AI innovation but also as a hub for talent and infrastructure.
The fund will focus on companies that use AI, machine learning, and advanced data analytics to transform industries and address critical challenges.
With Presight’s expertise in AI and big data solutions and Shorooq’s experience in managing capital and scaling startups, the fund aims to connect founders worldwide with both strategic investment and mentorship.
A key differentiator will be access to distribution channels across the UAE, G42, and Presight’s international customer network.
Whether it involves a fintech AI platform in New York, energy startups in London, or smart city solutions in Singapore, the fund seeks to support ventures capable of scaling globally.
Thomas Pramotedham, Chief Executive Officer of Presight, said:
“The fund will enable us to identify and assist entrepreneurs, from Silicon Valley to Southeast Asia, who are developing AI solutions with potential societal impact. Beyond capital, portfolio companies can benefit from our infrastructure resources and international markets. This combination of funding, infrastructure, and distribution channels is designed to give AI companies the tools they need to scale responsibly, which is the fund’s unique proposition.”
Mahmoud Adi, Founding Partner of Shorooq, added:
“Through this fund, we aim to demonstrate that the Middle East is an active contributor to the AI sector. We offer not only funding but also strategic guidance and long-term support. Regardless of location, if a company is addressing a problem with AI in a scalable way, we are interested in engaging with them.”
The fund will support companies at various stages developing AI, machine learning, and analytics solutions. Areas of focus include smart cities, energy, fintech, AR/VR, GameDev, Industry 4.0, and deep tech.
In addition to capital, portfolio companies will have access to Presight’s technical expertise and infrastructure, including cloud computing, GPU resources, and secure data environments, as well as Shorooq’s network of partners, mentors, and strategic markets across the Middle East, North Africa, Asia, and beyond.
Featured image credit: Presight
