
Polynome Group Unveils Plans For $100M Fund To Drive UAE's AI Startup Ecosystem
The announcement was made during the AI retreat organized by the Dubai Center for AI Applications in collaboration with the National Program for Artificial Intelligence. This event is the largest of its kind, aimed at accelerating the adoption and use of AI applications, and is attended by 1,000 decision-makers, experts, and officials from both the government and private sectors.
Polynome Group has secured in-principle approval from the Dubai International Financial Centre (DIFC) and Dubai Financial Services Authority (DFSA) to launch its AI fund in 2025, following the regulators' review and conditional endorsement of the proposed fund structure and investment strategy. The fund has a unique“Founders for Founders” concept, as the Polynome team themselves are entrepreneurs with successful experience creating and exiting AI startups.
“Our mission is to increase the technology contribution to the UAE's GDP, build a national tech hub and community, attract top international talent, and make the UAE a leader in AI research and innovation,” said Alexander Khanin, CEO and founder of the Polynome Group. The fund will invest in seed, Series A, and growth stage startups with an initial investment ranging from $500,000 to $5 million per company.
The fund expects to invest in up to 40 companies over a 5-year period. As a smart money fund supported by the UAE government, Polynome VC will provide smart funding and deep tech expertise. The team has over 100 AI/ML experts, data scientists, natural language processing specialists, computer vision engineers, and mentors from leading tech companies globally. They can conduct thorough technical due diligence on products and teams for investment decisions and M&A opportunities.
“We aim to create and strengthen links with the scientific community, prominent entrepreneurs, and invest in AI products that will become integral to people's everyday lives,” added Alexander Khanin.
In addition to the fund, Polynome VC will offer investment advisory services including fundraising strategy, M&A advisory, investment research, and strategic advisory for portfolio companies.
With the UAE's growing venture ecosystem, favorable business policies, and the relocation of top tech talent due to the global situation, Polynome VC is well-positioned to catalyze the next wave of innovation from Dubai.
Polynome Group, is renowned for organizing the largest professional AI summit in the Middle East, Machines Can See, and for its development of fundamental models and applied AI products.

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