Abu Dhabi-based big data and AI company Presight has partnered with investment firm Shorooq to launch a $100 million global AI innovation fund, Presight–Shorooq Fund I.
The vehicle will target AI and analytics startups across multiple stages, with an investment focus spanning smart cities, energy, fintech, AI/ML, AR/VR, gaming, Industry 4.0, and deep tech.
Portfolio companies will not only secure venture backing but also gain access to Presight’s technical infrastructure, including cloud compute and GPU resources, and Shorooq’s network across the Middle East, North Africa, and Asia.
Thomas Pramotedham, CEO of Presight, said the fund will combine “funding, infrastructure, and distribution channels” to help companies scale quickly and responsibly.
Mahmoud Adi, founding partner at Shorooq, described the initiative as “a defining moment for AI investment — uniting capital and expertise from the Middle East with world-class innovators globally.”
Presight–Shorooq Fund I marks the first time a publicly listed Middle Eastern tech company has launched an AI fund of this scale, with the initiative building on Presight’s recently launched AI Accelerator programme with Microsoft, which selected 10 global startups from over 120 applicants across 17 countries.
Shorooq, meanwhile, has been one of MENA’s most active early-stage investors, backing companies such as Pure Harvest, Nymcard, Tamara, Sarwa, Lean Technologies, TruKKer, Mozn, and Lendo.
This is the third AI-dedicated fund to launch in MENA this year. Saudi Arabia’s STV announced a $100 million AI fund backed by Google in July, targeting early-stage, AI-native companies with a focus on application-layer AI, localised models, and infrastructure. Earlier in the year, Saudi investor Tala Al-Jabri launched Wyld VC, a $50 million early-stage venture fund focused on AI middleware and applications, aiming to bridge Gulf and U.S. innovation ecosystems.
