Group 42, the Abu Dhabi-based artificial intelligence and cloud computing company, is launching a $10 billion fund that will invest in emerging technology in high-growth regions across the globe as it looks to expand its portfolio of investments.
G42, which counts Abu Dhabi’s sovereign fund Mubadala Investment Company and Silver Lake among its shareholders, is setting up the new investment vehicle in partnership with government-owned Abu Dhabi Growth Fund, G42 said in a statement on Thursday.
The G42 Expansion Fund, which will be managed by a subsidiary of G42, will focus on accelerating the pace of global innovation by investing in late-stage growth companies with disruptive technologies and strong business fundamentals.
“With the G42 Expansion Fund, we aim to accelerate our global impact not only through the deployment of capital, but also by providing unique access to our networks, management, and operational assets to our portfolio companies,” Peng Xiao, G42's chief executive, said.
The new fund will operate as a private equity investor, with a significant share of investment earmarked for high growth regions.
"In addition to providing investment support, G42 will leverage its operational assets and ecosystem of operating companies to accelerate value creation across the G42 Expansion Fund’s portfolio of investments," the company said.
The fund's investment priorities will cover technologies that have the potential "to shape the global economic landscape in the next decades".
It will invest across sectors including computing and communications technologies, intelligent mobility, clean technology and renewables, digital infrastructures, new materials, multiverses, FinTech, health care and life sciences.
“The G42 journey to date has been marked by success stories in a wide range of industries, addressing the most complex challenges faced by our customers," Mr Xiao, who is also chairman of the Growth Fund, said.
"With the foundation built by our operating businesses and support from our strategic partner ADG, the next era of G42 will be marked by our ability to turbocharge new ventures around the world."
The new fund will help G42 accelerate its global impact as the company is eager to engage with entrepreneurs who share its core values and growth ambitions.
"We are excited to be partnering with ADG to further cement Abu Dhabi as a global hub for innovation and progress,” Mr Xiao said.
G42, which owns and operates the world's 26th-most powerful supercomputer, is carrying out high-level fundamental and applied research into AI as well as developing cloud computing for the most demanding use cases.
In November 2020, Mubadala, became an investor in G42 by integrating its Injazat and Khazna Data Centres into the company. Last year, the Abu Dhabi company also secured a "substantial" investment from US-based private equity manager Silver Lake, whose managing partner and co-chief executive Egon Durban joined G42's board as part of the deal.
“As a growth focused investor, we are very pleased to have a technology investment partner in G42 that possesses deep knowledge of emerging technologies combined with the operational requirements for global growth and value creation," Khalifa Al Suwaidi, chief executive of Abu Dhabi Growth Fund, said.
The fund is an "excellent fit with our investment strategy", he added.
G42's portfolio of companies includes G42 Healthcare, G42 Smart Nation, open data portal Bayanat, G42 Cloud, Injazat, Khazna, Presight, among others.
Earlier this month, G42 Healthcare joined forces with Amazon Web Services (AWS) to develop genomics, proteomics and biobanking services.
G42's health care subsidiary owns Biogenix Labs, the UAE’s first large-scale, throughput Covid-19 laboratory. It also arranged the 4Humanity clinical trials, the world’s first Phase 3 trial for a vaccine to fight against the coronavirus, with more than 43,000 volunteers taking part.
G42 also teamed up with Beijing-based Sinopharm in March 2021 to set up Hayat Biotech, a joint venture that makes Covid-19 vaccines in the UAE.
Last year, Mubadala partnered with G42 to set up a biopharmaceutical manufacturing campus in Abu Dhabi, to tap into global vaccine and therapeutic products.
In June this year, the UAE’s biggest telecom operator e& and G42 merged their data centre services under Khazna Data Centres to cater to increasing digital infrastructure requirements in the region. With the consolidation, Khazna now operates 12 data centres, making it the largest data centre provider in the Middle East and North Africa.
The Gentlemen
Director: Guy Ritchie
Stars: Colin Farrell, Hugh Grant
Three out of five stars
'Brazen'
Director: Monika Mitchell
Starring: Alyssa Milano, Sam Page, Colleen Wheeler
Rating: 3/5
The Buckingham Murders
Starring: Kareena Kapoor Khan, Ash Tandon, Prabhleen Sandhu
Director: Hansal Mehta
Rating: 4 / 5
The%20specs
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The specs
Engine: 3.0-litre flat-six twin-turbocharged
Transmission: eight-speed PDK automatic
Power: 445bhp
Torque: 530Nm
Price: Dh474,600
On Sale: Now
UAE jiu-jitsu squad
Men: Hamad Nawad and Khalid Al Balushi (56kg), Omar Al Fadhli and Saeed Al Mazroui (62kg), Taleb Al Kirbi and Humaid Al Kaabi (69kg), Mohammed Al Qubaisi and Saud Al Hammadi (70kg), Khalfan Belhol and Mohammad Haitham Radhi (85kg), Faisal Al Ketbi and Zayed Al Kaabi (94kg)
Women: Wadima Al Yafei and Mahra Al Hanaei (49kg), Bashayer Al Matrooshi and Hessa Al Shamsi (62kg)
The Great Derangement: Climate Change and the Unthinkable
Amitav Ghosh, University of Chicago Press
Straightforward ways to reduce sugar in your family's diet
- Ban fruit juice and sodas
- Eat a hearty breakfast that contains fats and wholegrains, such as peanut butter on multigrain toast or full-fat plain yoghurt with whole fruit and nuts, to avoid the need for a 10am snack
- Give young children plain yoghurt with whole fruits mashed into it
- Reduce the number of cakes, biscuits and sweets. Reserve them for a treat
- Don’t eat dessert every day
- Make your own smoothies. Always use the whole fruit to maintain the benefit of its fibre content and don’t add any sweeteners
- Always go for natural whole foods over processed, packaged foods. Ask yourself would your grandmother have eaten it?
- Read food labels if you really do feel the need to buy processed food
- Eat everything in moderation
THE BIO
Age: 30
Favourite book: The Power of Habit
Favourite quote: "The world is full of good people, if you cannot find one, be one"
Favourite exercise: The snatch
Favourite colour: Blue
BIO
Favourite holiday destination: Turkey - because the government look after animals so well there.
Favourite film: I love scary movies. I have so many favourites but The Ring stands out.
Favourite book: The Lord of the Rings. I didn’t like the movies but I loved the books.
Favourite colour: Black.
Favourite music: Hard rock. I actually also perform as a rock DJ in Dubai.
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
North Pole stats
Distance covered: 160km
Temperature: -40°C
Weight of equipment: 45kg
Altitude (metres above sea level): 0
Terrain: Ice rock
South Pole stats
Distance covered: 130km
Temperature: -50°C
Weight of equipment: 50kg
Altitude (metres above sea level): 3,300
Terrain: Flat ice
Huddersfield Town permanent signings:
- Steve Mounie (striker): signed from Montpellier for £11 million
- Tom Ince (winger): signed from Derby County for £7.7m
- Aaron Mooy (midfielder): signed from Manchester City for £7.7m
- Laurent Depoitre (striker): signed from Porto for £3.4m
- Scott Malone (defender): signed from Fulham for £3.3m
- Zanka (defender): signed from Copenhagen for £2.3m
- Elias Kachunga (winger): signed for Ingolstadt for £1.1m
- Danny WIlliams (midfielder): signed from Reading on a free transfer
Race card
6.30pm: Maiden (TB) Dh 82,500 (Dirt) 1.600m
7.05pm: Maiden (TB) Dh 82,500 (D) 2,000m
7.50pm: Handicap (TB) Dh 82,500 (D) 1,600m
8.15pm: The Garhoud Sprint Listed (TB) Dh 132,500 (D) 1,200m
8.50pm: The Entisar Listed (TB) Dh 132,500 (D) 2,000m
9.25pm: Conditions (TB) Dh 120,000 (D) 1,400m
HAJJAN
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Killing of Qassem Suleimani
The specs: 2018 Nissan Altima
Price, base / as tested: Dh78,000 / Dh97,650
Engine: 2.5-litre in-line four-cylinder
Power: 182hp @ 6,000rpm
Torque: 244Nm @ 4,000rpm
Transmission: Continuously variable tranmission
Fuel consumption, combined: 7.6L / 100km
The biog
Family: wife, four children, 11 grandchildren, 16 great-grandchildren
Reads: Newspapers, historical, religious books and biographies
Education: High school in Thatta, a city now in Pakistan
Regrets: Not completing college in Karachi when universities were shut down following protests by freedom fighters for the British to quit India
Happiness: Work on creative ideas, you will also need ideals to make people happy
RESULT
Al Hilal 4 Persepolis 0
Khribin (31', 54', 89'), Al Shahrani 40'
Red card: Otayf (Al Hilal, 49')
The specs
Price, base / as tested Dh1,100,000 (est)
Engine 5.2-litre V10
Gearbox seven-speed dual clutch
Power 630bhp @ 8,000rpm
Torque 600Nm @ 6,500rpm
Fuel economy, combined 15.7L / 100km (est)
What is Folia?
Prince Khaled bin Alwaleed bin Talal's new plant-based menu will launch at Four Seasons hotels in Dubai this November. A desire to cater to people looking for clean, healthy meals beyond green salad is what inspired Prince Khaled and American celebrity chef Matthew Kenney to create Folia. The word means "from the leaves" in Latin, and the exclusive menu offers fine plant-based cuisine across Four Seasons properties in Los Angeles, Bahrain and, soon, Dubai.
Kenney specialises in vegan cuisine and is the founder of Plant Food Wine and 20 other restaurants worldwide. "I’ve always appreciated Matthew’s work," says the Saudi royal. "He has a singular culinary talent and his approach to plant-based dining is prescient and unrivalled. I was a fan of his long before we established our professional relationship."
Folia first launched at The Four Seasons Hotel Los Angeles at Beverly Hills in July 2018. It is available at the poolside Cabana Restaurant and for in-room dining across the property, as well as in its private event space. The food is vibrant and colourful, full of fresh dishes such as the hearts of palm ceviche with California fruit, vegetables and edible flowers; green hearb tacos filled with roasted squash and king oyster barbacoa; and a savoury coconut cream pie with macadamia crust.
In March 2019, the Folia menu reached Gulf shores, as it was introduced at the Four Seasons Hotel Bahrain Bay, where it is served at the Bay View Lounge. Next, on Tuesday, November 1 – also known as World Vegan Day – it will come to the UAE, to the Four Seasons Resort Dubai at Jumeirah Beach and the Four Seasons DIFC, both properties Prince Khaled has spent "considerable time at and love".
There are also plans to take Folia to several more locations throughout the Middle East and Europe.
While health-conscious diners will be attracted to the concept, Prince Khaled is careful to stress Folia is "not meant for a specific subset of customers. It is meant for everyone who wants a culinary experience without the negative impact that eating out so often comes with."
Cricket World Cup League 2
UAE squad
Rahul Chopra (captain), Aayan Afzal Khan, Ali Naseer, Aryansh Sharma, Basil Hameed, Dhruv Parashar, Junaid Siddique, Muhammad Farooq, Muhammad Jawadullah, Muhammad Waseem, Omid Rahman, Rahul Bhatia, Tanish Suri, Vishnu Sukumaran, Vriitya Aravind
Fixtures
Friday, November 1 – Oman v UAE
Sunday, November 3 – UAE v Netherlands
Thursday, November 7 – UAE v Oman
Saturday, November 9 – Netherlands v UAE