BlueFive Capital closed its $3 billion Onyx Fund I, it said on Monday, targeting opportunistic technology and growth investments in the U.S. and Europe.
The fund, which is registered with the Abu Dhabi Global Market, will focus on investments in artificial intelligence, biotechnology and advanced computing, the firm said.
BlueFive said the fund is anchored by sovereign capital from across the Gulf.
Founder and Chief Executive Hazem Ben-Gacem said the fund aims to invest at inflection points in computational and biological intelligence and described ADGM as a suitable regulatory base for a globally focused fund.
BlueFive said it expects to make several technology and biotechnology investments in the U.S. in the coming months.
Reuters
