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The Annual Investment Meeting (AIM) has teamed up with Beijing-based investment banker and fund manager China Bridge Capital and silicon-based NextG Tech Ltd to set up a fund to attract $100 billion.
The agreement was signed during this year’s AIM exhibition in Abu Dhabi.
China Bridge Capital, which also already has global offices in Shenzhen, Beijing, Silicon Valley and New York, has set its sights on doing the same in the UAE through the Abu Dhabi Billionaire Business Attraction Fund, which aims to attract global investors. A generation of unicorns entered the country, especially Abu Dhabi.
global sustainability
The fund seeks to promote sustainable global development while achieving the vision of creating 10,000 jobs within three years and 30,000 within five years.
Edward Zeng, founder of NextG Tech and China Bridge Capital, said: “Through the fund’s global mobile energy ecosystem, supported by institutional LPs and our partnership with AIM, we are confident that we will attract 10 unicorns through investment Beast, integration and dual listing, will achieve a total market capitalization of US$100 billion within five years and boost Abu Dhabi’s already thriving startup ecosystem.”
Dawood Al Shezawi, President of AIM, commented: “This is an important milestone for the UAE as it will help us support our efforts to build a vibrant and sustainable innovation and entrepreneurship ecosystem in the country.”
The fund also envisions attracting next-generation technology, talent, capital and jobs from around the world to the UAE. The companies in the fund come from industries such as electric vehicles, solar energy, autonomous driving, smart sanitation, nuclear infusion, consumption, medical care, information technology Web3, and hydrogen energy—— trade arab news agency
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