Swiss Firm Launches USD 100 Million AI Investment Fund in Abu Dhabi
The investment comes as Abu Dhabi and the broader UAE positions itself as a hub for AI-driven technology.
Switzerland-based BRICS Investment Fund, managing a CHF 13.8 billion in assets, has set its sights on the burgeoning AI landscape of Abu Dhabi. The consortium, consisting of family offices, institutional investors, top-tier banks, and private investors, recently unveiled a new AI-focused investment fund aimed at harnessing the UAE's potential in AI innovation and development.
With an initial capital commitment of USD 100 million, the BRICS Investment Fund aims to support growth companies and initiatives, fostering Foreign Direct Investment opportunities and strategic partnerships in the region.
The Annual Investment Meeting (AIM) played a pivotal role in attracting these investors to the UAE's AI landscape. The consortium inked a strategic partnership with AIM, solidifying it as the premier platform for stakeholders to explore investment prospects in the Emirates.
The launch of the BRICS Investment Fund's dedicated AI fund comes as Abu Dhabi and the UAE in general strives to broaden its AI imprint.
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Jul 22, 2024 -
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