G42 Abu Dhabi AI Firm Plans to Hire Across Asia for $10 Billion Fund - Bloomberg
G42, the Abu Dhabi-based artificial intelligence company, is hiring dozens of people across Asia to scout for opportunities for its $10 billion tech fund.
The AI and cloud computing company, backed by a key member of the emirate’s ruling family, plans to build up teams in Singapore, Jakarta, Shanghai, as well as in Tel Aviv to support its 42X Fund, according to people familiar with the matter.
The fund will target technology investments across those countries, and in Saudi Arabia and Egypt, the people said, asking not to be identified because the matter is private. G42 is also considering investment partnerships with several hedge funds, they said.
G42’s expansion into Asia comes as Abu Dhabi — a city that’s among the few globally to manage over $1 trillion in sovereign wealth capital — ratchets up efforts to plow oil revenue into the technology sector and diversify its economy. The firm is chaired by United Arab Emirates national security adviser Sheikh Tahnoon Bin Zayed, whose business empire includes investment firm Royal Group and sovereign wealth fund ADQ.
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