A Swiss Investor Consortium BRICS Investment Fund, managing 13.8 billion CHF in assets, comprising family offices, institutional investors, leading banks, and private investors, has established a new AI-dedicated investment fund in Abu Dhabi.
The consortium of investors announced its strategic move towards investing in the UAE’s potential artificial intelligence (AI) growth opportunities. The BRICS Investment Fund, with an initial capital commitment of $100 million, aims to invest in growth companies and initiatives and foster Foreign Direct Investment (FDI) opportunities and strategic partnerships.
“We believe that the future lies in AI growth potential,” stated Gilles Koch, CEO of Sheild Capital Investment Bank and spokesperson for the Swiss Investor Consortium.
The Annual Investment Meeting (AIM) was critical in securing the investors. As part of this initiative, the consortium signed a strategic partnership with AIM as the leading platform for stakeholders to discuss investment development in the UAE.
Meanwhile, Prof. Henrik von Scheel, the originator of the Fourth Industrial Revolution and the announcer of the AI hypercycle, signed an exclusive agreement to support the UAE AI Investment Fund and its implementation.
“AI is the automation of Intelligence and needs to be applied purpose-driven to deliver impact from the UAE to the world”, stated H.E. Shaik Hamdan, spokesperson for the CEO at NEXT IT.
It is a technology company based in the UAE, established in 2011. It has a wide range of clients across various industries in the Middle East. It specialises in providing tailored technology solutions to businesses, including updating existing websites or applications, managed IT services, and after-hours emergency support.
The company works with startups, nonprofits, and medium-sized and enterprise-level corporations, offering engineering, construction, oil and gas, technology, health, travel, finance, and other services. It is known for its expertise in AI, machine learning, robotics, blockchain, augmented reality, and deep learning.
Additionally, Next IT & Systems offers services in software development, business intelligence, and software integration, aiming to streamline operations and drive client success.
