Arcapita Group Holdings Limited, the global alternative investment firm, announced its co-investment in a high-growth portfolio of artificial intelligence companies in partnership with Parkway Venture Capital, a US-based venture capital company specialising in frontier technology. This investment has been structured to offer investors a unique opportunity to gain exposure to early-stage pioneering companies at the forefront of the AI revolution.
This investment highlights Arcapita’s commitment to advancing emerging technologies and AI, underscoring its vision for fostering innovation and growth in these transformative sectors. The partnership also reinforces Parkway’s reputation as a leader in frontier technology and artificial intelligence, paving the way for continued expansion and success.
The Artificial Intelligence Portfolio will initially deploy its capital in five seed assets driving advancements in robotics, quantum computing, generative AI and more. Notable investments include:
- Figure AI: A leader in AI-powered humanoid robotics, focused on addressing labour shortages and improving workplace safety through cutting-edge automation. Figure AI has secured strategic partnerships with BMW and Amazon, as well as investments from Microsoft, OpenAI and Nvidia.
- SandboxAQ: Originally developed within Alphabet Inc, SandboxAQ applies AI and quantum computing to advance cybersecurity and materials science, with backing from former Google chief executive Eric Schmidt, Salesforce’s Marc Benioff and Allianz.
The global AI market is expected to see a compound annual growth rate of 28% between 2024 and 2030, according to Statista, because of an increase in AI adoption across industries, technological advancements, data availability and government support.
Neil Carter, managing director of US private equity at Arcapita, said: “Arcapita’s vision is to support businesses that are defining the future. In Parkway we have found an ideal partner for our first US-based VC investment.
"They have a strong track record of identifying and nurturing high-potential companies at the cutting edge and we are very excited by the seed investments in our Artificial Intelligence Portfolio. Together, we aim to unlock opportunities that have a profound and lasting impact on industries worldwide.”
Jesse Coors-Blankenship, general partner at Parkway, said: “This collaboration is a defining moment for Parkway as it will empower us to scale our global reach and deepen our impact in pioneering technologies, delivering results that shape industries and redefine possibilities.”
Gregg Hill, also general partner at Parkway, said: “Arcapita’s trust in Parkway underscores not only the strength of our approach, but also our collective commitment to driving meaningful global innovation.”
Company%20Profile
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The specs
Common to all models unless otherwise stated
Engine: 4-cylinder 2-litre T-GDi
0-100kph: 5.3 seconds (Elantra); 5.5 seconds (Kona); 6.1 seconds (Veloster)
Power: 276hp
Torque: 392Nm
Transmission: 6-Speed Manual/ 8-Speed Dual Clutch FWD
Price: TBC
Studying addiction
This month, Dubai Medical College launched the Middle East’s first master's programme in addiction science.
Together with the Erada Centre for Treatment and Rehabilitation, the college offers a two-year master’s course as well as a one-year diploma in the same subject.
The move was announced earlier this year and is part of a new drive to combat drug abuse and increase the region’s capacity for treating drug addiction.
MANDOOB
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MATCH INFO
Asian Champions League, last 16, first leg:
Al Jazira 3 Persepolis 2
Second leg:
Monday, Azizi Stadium, Tehran. Kick off 7pm
RACE CARD
6.30pm Maiden (TB) Dh82.500 (Dirt) 1,400m
7.05pm Handicap (TB) Dh87,500 (D) 1,400m
7.40pm Handicap (TB) Dh92,500 (Turf) 2,410m
8.15pm Handicap (TB) Dh105,000 (D) 1,900m
8.50pm UAE 2000 Guineas Trial (TB) Conditions Dh183,650 (D) 1,600m
9.25pm Dubai Trophy (TB) Conditions Dh183,650 (T) 1,200m
10pm Handicap (TB) Dh102,500 (T) 1,400m
Volunteers offer workers a lifeline
Community volunteers have swung into action delivering food packages and toiletries to the men.
When provisions are distributed, the men line up in long queues for packets of rice, flour, sugar, salt, pulses, milk, biscuits, shaving kits, soap and telecom cards.
Volunteers from St Mary’s Catholic Church said some workers came to the church to pray for their families and ask for assistance.
Boxes packed with essential food items were distributed to workers in the Dubai Investments Park and Ras Al Khaimah camps last week. Workers at the Sonapur camp asked for Dh1,600 towards their gas bill.
“Especially in this year of tolerance we consider ourselves privileged to be able to lend a helping hand to our needy brothers in the Actco camp," Father Lennie Connully, parish priest of St Mary’s.
Workers spoke of their helplessness, seeing children’s marriages cancelled because of lack of money going home. Others told of their misery of being unable to return home when a parent died.
“More than daily food, they are worried about not sending money home for their family,” said Kusum Dutta, a volunteer who works with the Indian consulate.
Company profile
Company name: Suraasa
Started: 2018
Founders: Rishabh Khanna, Ankit Khanna and Sahil Makker
Based: India, UAE and the UK
Industry: EdTech
Initial investment: More than $200,000 in seed funding
The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
'Munich: The Edge of War'
Director: Christian Schwochow
Starring: George MacKay, Jannis Niewohner, Jeremy Irons
Rating: 3/5
