MGX

United Arab Emirates · Middle East · Founded 2024 · Strategic development fund · Not an IFSWF member

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Focus

MGX: what it invests in

TechnologyInfrastructure and utilitiesHealthcare and life sciencesFinancial servicesTelecoms and media

Private equityVenture capitalInfrastructure

Geography Global

Scale

MGX: how big it is, and on what basis

USD 49B

Committed or authorised capitalAs of 2026-07-01

In US dollars: about USD 49.0B. Fund I commitments in US dollars

Transparency

MGX: what it publishes

5.0 of 10 Band 3 of 5

Published 3 · Partly 4 · Not published 3

Our 10 item score. It measures what is public, not how well a fund is run.

Fund I commitmentsS3: USD 49B (Final close, Jul 2026); As of 2026-07-01
Aligned enterprise valueS5: About USD 40B; As of 2026-07-21
North America shareS6: About 70%
AIP equity targetS7: USD 30B
Fund I companies at closeS3: 14; As of 2026-07-01
FoundedS1: March 2024; As of 2024-03-11
Transparency scoreS11: 5.0 of 10

At a glance. MGX is Abu Dhabi's artificial intelligence and advanced technology investor, set up in March 2024 with Mubadala and G42 as founding partners. Its Fund I closed on USD 49 billion of commitments in July 2026. It backs semiconductors, AI data centre platforms and frontier AI companies, often in large consortia, and co-founded the AI Infrastructure Partnership that bought Aligned Data Centers for about USD 40 billion. S1 S3 S5

Key points

Fund I closed at USD 49 billion of commitments on 1 July 2026. S3
Three focus areas: semiconductors, AI digital infrastructure and AI technology. S6
About 70 percent of capital is deployed in North America. S6
Co-founded AIP with BlackRock, GIP, Microsoft and NVIDIA in September 2024. S7
AIP's first deal: Aligned Data Centers at about USD 40 billion enterprise value. S5
Portfolio includes OpenAI, Anthropic, Databricks, SpaceX and Khazna. S7
Regulated in the Abu Dhabi Global Market, with offices in Abu Dhabi and New York. S4

Interesting facts

It joined the Stargate Project with OpenAI, SoftBank and Oracle in January 2025. S8
It holds part of TikTok USDS Joint Venture alongside Oracle and Silver Lake. S8 S7
Its Campus AI venture with Bpifrance, Mistral AI and NVIDIA targets 3 GW of French AI capacity. S7 S9

Mandate and goals

Speed up the responsible development of AI-led technologies with lasting positive impact, investing across the AI stack alongside international partners. S4 S10

Build AI infrastructure: data centres and connectivity. S10
Back semiconductor design and manufacturing. S10
Invest in AI models, software, life sciences and robotics. S10
Act as an investor-operator in concentrated positions. S6
Spending rule: Not applicable; an investment company with no budget transfer rule published S4

How it invests

Industries	Technology, Infrastructure and utilities, Healthcare and life sciences, Financial services, Telecoms and media S6
Asset classes	Private equity, Venture capital, Infrastructure S6
Stages	Growth, Buyout, Infrastructure, Venture S6
Geography	Global. About 70 percent North America S6
Direct / through funds / co-invest	Yes / No / Yes S6
Ticket size	Multi-billion consortium deals; MGX shares in rounds are often not stated. S9
Deal sizes seen	Large rounds and buyouts
External managers	Invests directly through its own fund management company S4
Co-investment programme	AIP consortium and deal syndicates S7

Published criteria

Concentrated positions across the AI stack. S6
Scalable platforms with strategic partners. S7
Investor-operator involvement. S4

Past investments

Year	Investment	Type	Sector	Stage	Amount
2026	Aligned Data Centers. 100 percent of equity bought through AIP from Macquarie-managed funds, plus USD 5B growth capital. S5	Co-investment	Infrastructure and utilities	Buyout	About USD 40B EV
2026	Databricks. Co-investor in a USD 5B strategic round at a USD 190B valuation. S9	Co-investment	Technology	Growth	USD 5B round
2024	AI Infrastructure Partnership (AIP). Co-founded platform; later joined by xAI, Kuwait Investment Authority and Temasek. S7	Joint venture or partnership	Infrastructure and utilities	Infrastructure	Not published
2025	Campus AI. French AI data centre venture expanded in June 2026 to a 3 GW network. S7	Joint venture or partnership	Infrastructure and utilities	Infrastructure	Not published
Not published	OpenAI. Frontier AI model developer. S7	Direct investment	Technology	Growth	Not published
Not published	Anthropic. AI safety and research company, maker of Claude. S7	Direct investment	Technology	Growth	Not published
Not published	SpaceX. Space and AI company in the portfolio. S7	Direct investment	Technology	Growth	Not published
2025	Binance. Minority investment in the digital asset exchange. S8	Direct investment	Financial services	Growth	USD 2B
2026	TikTok USDS Joint Venture LLC. US joint venture set up in January 2026; MGX, Oracle and Silver Lake hold about 45 percent together. S8	Joint venture or partnership	Telecoms and media	Buyout	Not published
2025	Stargate Project. US AI infrastructure venture. S8	Joint venture or partnership	Infrastructure and utilities	Infrastructure	Not published
Not published	Altera. Programmable chips (FPGAs) for cloud to edge. S7	Direct investment	Technology	Growth	Not published
Not published	Vantage Data Centers North America. Data centre capacity for AI and cloud customers. S7	Direct investment	Infrastructure and utilities	Infrastructure	Not published
Not published	Khazna Data Centers. Hyperscale data centre platform. S7	Direct investment	Infrastructure and utilities	Infrastructure	Not published
Not published	Isomorphic Labs. AI drug discovery company founded in 2021. S7	Direct investment	Healthcare and life sciences	Growth	Not published

Case studies

Aligned Data Centers buyout S5

What: AIP, MGX and GIP bought all of Aligned's equity, with USD 5 billion of growth capital committed.
When: Agreed Oct 2025; closed Jul 2026
Size: About USD 40B enterprise value
Why: To own a large, fast-growing platform serving hyperscale AI demand.
Outcome: AIP's first investment; Aligned now in the MGX portfolio.

Fund I raise S3

What: MGX's first fund took outside commitments from investors in the Gulf, North America, Asia and Europe.
When: Final close Jul 2026
Size: USD 49B
Why: To scale deployment across the AI stack with partner capital.
Outcome: 14 portfolio companies at close.

Campus AI in France S7

What: A venture with Bpifrance, Mistral AI and NVIDIA to design, finance and build AI computing sites.
When: Announced May 2025; expanded Jun 2026
Size: Not published
Why: To give France and Europe large-scale AI compute.
Outcome: Expanded to a planned 3 GW network.

Investment process

The Board sets direction; an executive Investment Committee chaired by the CEO approves deals; a Management Committee runs operations. S11 S12

Committee	Role
Board Executive Committee	Board-level oversight S11
Audit and Risk Committee	Chaired by Jassem Al Zaabi S11
Nomination and Remuneration Committee	People and pay S11
Investment Committee	Chaired by the CEO S12
Management Committee	Co-chaired by the COO and CFO S12

Theme set across the AI stack. S6
Partners assembled for large positions. S6
Investment Committee approval. S12
Active investor-operator support. S4

How to approach: No application process is published; a contact page is available. S6

Size and returns

Headline size: USD 49B (Committed or authorised capital, as of 2026-07-01) S3
In US dollars: about USD 49.0B. Fund I commitments in US dollars
AIP equity target: USD 30B (up to USD 100B with debt) (Announced target, not current assets) S7
Returns: the fund does not publish a return figure.

Leadership

Name	Title	Since
Sheikh Tahnoon bin Zayed Al Nahyan	Chairman S11	Not published
Khaldoon Al Mubarak	Vice Chairman S11	Not published
Jassem Mohammed Bu Ataba Al Zaabi	Board member; Audit and Risk Committee Chair S11	Not published
Ahmed Yahia Al Idrissi	Managing Director and CEO S12	2024-03-11
Danny Dweik	COO and CFO S12	Not published
Ali Osman	Chief Investment Officer, AI S12	Not published
Guy Harmelin	Chief Investment Officer, Advanced Technology S12	Not published

Governance and transparency

Legal basis: MGX Group Holding 1 Ltd and MGX Fund Management Limited, incorporated in ADGM S4
Oversight: Board chaired by Sheikh Tahnoon bin Zayed; ADGM FSRA licence for the fund manager S11 S4
Code of conduct and confidential reporting channel published. S4
Created under the Artificial Intelligence and Advanced Technology Council. S1

Transparency score: 5.0 of 10 (band 3 of 5). Our own 10-item rubric; see the methodology page.

Published: geographic or sector split, holdings or deal list, named leadership. S6 S7 S12
Partly published: total assets, asset allocation, governance and mandate documents, regular reporting schedule. S3 S6 S9 S11
Not published: annual return, long-term returns, audited financial statements. S4 S6

History

Date	Event
2024-01-22	AI and Advanced Technology Council set up. S1
2024-03-11	MGX announced with Mubadala and G42. S1
2024-09	AIP formed. S7
2025-01	Joins the Stargate Project. S8
2025-03	USD 2B Binance investment. S8
2025-05	Campus AI announced. S7
2025-10	Aligned deal agreed. S13
2026-01	TikTok USDS joint venture set up. S8
2026-07-01	Fund I final close at USD 49B. S3
2026-07-21	Aligned acquisition completed. S5
2026-08-13	Databricks round closed. S9

For family offices

A mega-ticket AI investor that syndicates large deals with global institutions. Family offices are more likely to meet MGX as fellow investors in rounds or consortium vehicles than as fund managers. S6 S3

Co-invests alongside strategic and financial partners in large AI infrastructure and growth rounds. S7

Reports

Fund I final close announcement: https://www.mgx.ae/news-insights/mgx-pleased-confirm-final-close-mgx-fund-i-49-billion-total-commitments-significantly S3
Aligned Data Centers closing announcement: https://www.mgx.ae/news-insights/aip-mgx-and-blackrocks-gip-close-acquisition-aligned-data-centers S5

Common questions

Who runs MGX?

Ahmed Yahia Al Idrissi is CEO; Sheikh Tahnoon bin Zayed Al Nahyan chairs the Board. S12 S11

How large is it?

Fund I closed at USD 49 billion of commitments on 1 July 2026; firm AUM is not published. S3

What does it invest in?

Semiconductors, AI data centre platforms and AI technology companies. S6

What was its biggest deal?

The roughly USD 40 billion Aligned Data Centers buyout through AIP. S5

Public Investment Fund (PIF) Saudi Arabia · SAR 3,396B
Mubadala Investment Company United Arab Emirates (Abu Dhabi) · AED 1,414B
National Development Fund of Iran (NDFI) Iran · About USD 195B (stated, unaudited)
XRG, ADNOC international investment company (Abu Dhabi) United Arab Emirates (Abu Dhabi) · USD 150B+, estimate
National Development Fund (NDF) Saudi Arabia · About SAR 430B
Oman Investment Authority (OIA) Oman · OMR 22.922B

All sovereign wealth funds in Middle East · All strategic development funds · All funds in United Arab Emirates

Sources

Disclaimer

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