Abu Dhabi - Mubasher: Presight AI Holding and Shorooq Partners have launched a $100 million global AI innovation fund to back next-generation artificial intelligence ventures worldwide.

The joint fund will focus on startups in fintech, energy, and smart cities, according to a bourse disclosure.

It will leverage AI, machine learning (ML), and data analytics to drive industry transformation.

Backed by Presight’s AI expertise and Shorooq’s venture track record, the fund will give startups market access via the UAE ecosystem, G42, and Presight’s global network.

Established in Abu Dhabi Global Market, the vehicle highlights the UAE’s rising position as a hub for AI talent, infrastructure, and investment.

Thomas Pramotedham, CEO of Presight, said: “We are combining Presight’s AI leadership with Shorooq’s investment acumen to fuel the next wave of AI innovation. The fund will enable us to identify and support bold entrepreneurs – from Silicon Valley to Southeast Asia – who are building AI solutions that can transform businesses and societies.”

Mahmoud Adi, Founding Partner of Shorooq, affirmed: “This partnership is a defining moment for AI investment—uniting capital and expertise from the Middle East with world-class innovators globally. We are not just launching a fund; we are reinforcing to the world that the Middle East is a driving force in the AI revolution.”

In the six-month period that ended on 30 June 2025, the net profits after tax of Presight hit AED 209.73 million, higher by 18.80% year-on-year (YoY) than AED 176.43 million.