Lunate Weighs Up to $1B Investment in Abu Dhabi AI Fund MGX
Abu Dhabi–based asset manager Lunate is exploring a potential investment of up to $1 billion into MGX, the emirate’s state-backed artificial intelligence fund, Bloomberg reported. The move would mark a major private-sector vote of confidence in MGX as the UAE accelerates its push to become a central hub for AI capital and talent. Lunate’s consideration comes amid growing regional competition to attract global tech investment and position Gulf sovereign-backed vehicles at the forefront of AI financing.
If completed, a sizable commitment from Lunate could help MGX scale deal flow and signal stronger alignment between private asset managers and state-led tech strategies. The decision may also influence how global investors and startups view Abu Dhabi as a destination for AI funding, potentially speeding partnerships, cross-border deals, and broader capital formation in the region’s emerging tech ecosystem.