MGX Closes First Investment Fund at $49 Billion

MGX has announced the final closing of its first investment fund, MGX Fund I, with total commitments of $49 billion, surpassing the initial target of $45 billion. The fund attracted a diverse base of investors from the Gulf, North America, Asia, and Europe, reflecting global interest in AI investments. It has invested in 14 companies, focusing on AI value chain segments. This move comes as the AI sector experiences increasing investment flows, demonstrating investor confidence in its future. MGX aims to build a portfolio of companies poised to benefit from the accelerating digital transformation.