Arcapita Expands AI Portfolio with Parkway Investment

Bahrain-based Arcapita has announced an investment in a portfolio of high-growth artificial intelligence (AI) firms in collaboration with New York’s Parkway Venture Capital. This strategic partnership represents a bid to capitalize on the technological advancements seen within AI sectors such as robotics, quantum computing, and generative AI. The highlighted firms in their investment portfolio include Microsoft-backed Figure AI and Alphabet spin-off SandboxAQ, which focus on AI-powered humanoid robots and quantum AI solutions respectively. Figure AI collaborates with industry giants Amazon and BMW, while SandboxAQ enjoys backing from influential figures like former Google CEO Eric Schmidt and Salesforce's Marc Benioff. This venture arises amidst a backdrop of significant global AI market growth, which Statistica estimates will see a CAGR of 28% from 2024 to 2030. Through this initiative, Arcapita signals its efforts to offer investors opportunities to tap into early-stage businesses driving the AI frontier forward. Neil Carter, Managing Director of US Private Equity at Arcapita, emphasized their commitment to supporting businesses shaping the future.