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# UAE-based AI and cloud computing tech platform G42 launches $10 billion expansion fund
- URL: https://www.techloy.com/uae-based-ai-and-cloud-computing-tech-platform-g42-launches-10-billion-expansion-fund/
- Published: 2022-08-18T14:19:21.000Z
- Updated: 2022-08-18T14:19:21.000Z
- Author: Oluwajuwonlo Afolabi
- Tags: / Money, G42, Startups in MENA, Startups in UAE, CleanTech, / Fintech, Oxford Nanopore, Beyond Limits, Cerebras Systems, FLYR Labs

[G42,](https://g42.ai/) a UAE-based AI and cloud computing company, has launched a $10 billion expansion fund in partnership with Abu Dhabi Growth Fund, to invest in high-impact businesses with strong technological innovations. 

- The Fund will be managed as a private equity investor and deployed across sectors, including computing and communication technologies, intelligent mobility, clean tech and renewables, digital infrastructures, multiverses, new materials, fintech, health care, and life sciences.
- G42 will also provide unique access to its networks, management, and operational assets to its portfolio, alongside deploying capital to them.
- Founded in 2018, G42 is an Abu Dhabi-born AI solution and cloud computing company contributing to the development of AI industries in the government sector, healthcare, finance, oil and gas, aviation, and hospitality among others.
- It has invested in and partnered with Oxford Nanopore, a UK-based DNA-sequencing specialist, Beyond Limits, a US-based industrial and enterprise-grade artificial intelligence company, Cerebras Systems, a US-based team of pioneering architects, and FLYR Labs, a US-based company focusing on AI-enabled applications for mobility leaders, and others.