AIM ties up with China Bridge Capital, NextG to woo unicorns

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UAE - The Annual Investment Meeting (AIM) has tied up with Beijing-based investment banking firm 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 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 UAE through the “Abu Dhabi Billionaire Business Attraction Fund,” which aims to attract global next-generation unicorns into the country, in particular Abu Dhabi.

Global sustainability

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 capitalisation of $100 billion within five years and boost the already burgeoning startup ecosystem of Abu Dhabi.”

Dawood Al Shezawi, President of AIM, commented: “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 attracting 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.