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

Abu Dhabi-based investment firm MGX announced on Wednesday that it has successfully raised $49 billion (approximately Dh180 billion) through its MGX Fund I. The fund garnered significant interest from a diverse group of major institutional and private investors spanning the Gulf, North America, Asia, and Europe.

Since its inception, MGX Fund I has strategically invested in 14 companies, focusing on creating a high-conviction portfolio of artificial intelligence (AI) and technology leaders. The company's current portfolio includes some of the world's most prominent AI and technology firms, such as SpaceX, Anthropic, Binance, OpenAI, Khazna, TikTok, and Vantage Data Centers.

MGX, chaired by Sheikh Tahnoon bin Zayed Al Nahyan, the Deputy Ruler of Abu Dhabi and UAE National Security Advisor, is a private investment firm dedicated to global investments in AI and advanced technology. The firm's leadership also includes vice-chairman Khaldoon Al Mubarak and managing director and CEO Ahmed Yahia Al Idrissi.

Fund I was launched to offer curated exposure to the AI theme through disciplined investments in differentiated opportunities across the AI technology stack. This includes semiconductors, AI infrastructure, and AI-enabling technologies and platforms. MGX remains committed to identifying exceptional investment opportunities that generate long-term value through active partnerships. In a related development, MGX, along with Bpifrance and Mistral, announced plans in June to expand Campus AI in France, aiming to develop 3 GW of compute capacity nationwide.