Abu Dhabi’s MGX raises Dh180 billion from institutional, elite investors

Abu Dhabi-based company MGX on Wednesday said it raised $49 billion (nearly Dh180 billion) through its MGX Fund I, attracting investment from an elite and diverse group of major institutional and private investors from the Gulf, North America, Asia and Europe.

Since inception, MGX Fund I has invested in 14 companies, partnering with leading global technology leaders and platforms to create a high conviction portfolio of AI champions.

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The company's portfolio includes some of the world's largest artificial intelligence (AI) and technology companies such as SpaceX, Anthropic, Binance, OpenAI, Khazna, TikTok and Vantage Data Centers (North America) among others.

Chaired by Sheikh Tahnoon bin Zayed Al Nahyan, the Deputy Ruler of Abu Dhabi and the National Security Advisor of the UAE, MGX is a private investment firm established to invest in artificial intelligence and advanced technology globally. Its other high-profile officials include vice-chairman Khaldoon Al Mubarak, managing director and CEO Ahmed Yahia Al Idrissi, and board members Jassem Al Zaabi, Peng Xiao and Martin Edelman.

The firm launched Fund I to provide curated exposure to the AI thematic through disciplined investments in differentiated and restricted opportunities across the AI technology stack, including semiconductors, AI infrastructure and AI and AI-enabling technologies and platforms.

The firm remains focused on identifying exceptional investment opportunities that will create long-term value through active partnership.

In June, Bpifrance, Mistral and MGX announced the planned expansion of Campus AI in France, with a goal of developing up to 3 GW of compute capacity nationwide.

Written by

Waheed Abbas

Waheed Abbas is Assistant Editor, covering real estate, aviation and other business stories that directly affect the lives of UAE consumers. He frequently reports human interest stories, too.