Lunate, a leading Abu Dhabi–based alternative investment manager, is reportedly in discussions to invest $1 billion in the UAE technology firm MGX, which specializes in artificial intelligence.
According to reports, the talks are still in progress, and no final agreement has been reached yet. Sources familiar with the matter shared that the discussions are ongoing, and the terms have not been finalized.
Lunate is known for its wide-ranging investment portfolio, covering buyouts, growth equity, venture capital at both early and late stages, private credit, real assets, as well as public market investments.
Further details regarding the structure or format of the potential investment in MGX have not been disclosed at this time.
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