Partnership aims to entice in 3 years 10 unicorns to the UAE in two phases with total target at USD 1-billion AUM
Potential total market cap of USD 100 billion expected in five years
Abu Dhabi, United Arab Emirates, 11 May 2023: The United Arab Emirates’ capital, Abu Dhabi, is set to further solidify its prominence as a leading hub of dynamic institutions and industry-leading initiatives with the Annual Investment Meeting (AIM) entering into a partnership with Beijing-based investment banking firm and fund manager China Bridge Capital and Silicon-based NextG Tech Ltd. The agreement was signed during this year’s edition of AIM, which took place in Abu Dhabi.
China Bridge Capital, which has also long established its foothold in worldwide offices in Shenzhen, Beijing, Silicon Valley, and New York, has now fixed its sights on doing the same in the United Arab Emirates through the “Abu Dhabi Billionaire Business Attraction Fund,” which aims to attract global next-generation unicorns into the country, in particular in Abu Dhabi.
The Fund seeks to promote global sustainability alongside its vision to create 10,000 jobs in three years and bringing this number up to 30,000 in a five-year period.
Edward Zeng, Founder of NextG Tech and China Bridge Capital, said: “Through the Fund’s Global Mobilenergy Ecosystem, which is supported by institutional LPs as well as with our partnership with AIM, we are confident that our vision to attract 10 unicorns with investment, integration and dual listing, will achieve total market capitalization of USD 100 billion within five years and boost the already burgeoning startup ecosystem of Abu Dhabi.”
Dawood Al Shezawi, President of the Annual Investment Meeting, commented: “We are proud to sign this agreement with China Capital Bridge and NextG Tech. This is a significant milestone for the UAE in general, as it will help us support our efforts to build a vibrant and sustainable innovation and entrepreneurial ecosystem in the country.”
The Fund also envisions to attract global next-generation of technology, talent, capital, and jobs into the UAE. Companies within the Fund are from industries such as electronic vehicles, solar, autonomous driving, intelligent sanitation, nuclear infusion, consumption, health care, infotech Web3, and hydrogen.
This year, Abu Dhabi perfectly plays host to the world’s leading investment platform, the Annual Investment Meeting, for the first time. The Annual Investment Meeting convened high-level government officials, decision-makers, and investors to chart the global economic roadmap.
