Bahrain-based Arcapita is investing in a high-growth portfolio of artificial intelligence (AI) companies in collaboration with New York’s Parkway Venture Capital, capitalizing on the expanding market for transformative technologies. The portfolio focuses on cutting-edge sectors such as robotics, quantum computing, and generative AI, and includes notable companies like Microsoft-backed Figure AI and Alphabet’s spinoff SandboxAQ.
Figure AI, which specializes in AI-powered humanoid robots, has established partnerships with major companies including Amazon and BMW. Meanwhile, SandboxAQ, a quantum-focused AI firm, has garnered backing from prominent figures like former Google CEO Eric Schmidt, Salesforce’s Marc Benioff, and Allianz.
With AI adoption steadily increasing across both private and public sectors, the global AI market is projected to grow at a compound annual growth rate of 28% between 2024 and 2030, according to Statistica. Arcapita’s investment aims to offer exposure to early-stage businesses leveraging advanced AI technologies.
“Arcapita’s vision is to support businesses that are defining the future,” stated Neil Carter, Managing Director of US Private Equity at Arcapita.
