What we invest in · Technology
Technology investments
Technology is one of our three strategies, focused on companies supplying the build-out of data centres, digital infrastructure and artificial intelligence.
The strategy
Focus on enabling infrastructure
Technology is one of our three investment strategies, together with growth and pre-IPO equity, and listed and cornerstone positions.
We invest in companies supporting the build-out of data centres, digital infrastructure and artificial intelligence across the GCC, Asia and Europe. We approach artificial intelligence through its value chain, focusing on the enabling layer where we can evaluate suppliers of equipment, components, power, cooling and services by their margins and cash flow.
Selection
Profitable suppliers in core technology sectors
We focus on established, profitable suppliers across electrical and cooling equipment, electronics and precision components, industrial automation, and the engineering and services businesses supporting digital infrastructure. Margins vary widely within these sectors, and we favour companies operating at the higher end of their range. In the application layer of artificial intelligence it remains too early to identify the companies that will establish durable positions, and we therefore invest selectively and value each business on audited cash flow and peer earnings.
All strategies
Technology due diligence on every investment
We conduct a technology review for every company we consider, regardless of sector, before our investment committee makes a decision. This review covers the systems supporting reported revenue, cyber security and incident history, the handling of personal data, key-person and vendor dependencies, and the substantiation of any claims about artificial intelligence. The findings are presented to the committee together with the financial, commercial, legal and tax analysis. We address any gaps that a public listing might expose before we proceed.
Leadership
Responsibility for the strategy
Our technology strategy and reviews are led by Emanuel Kuce Radis, Managing Co-Founder, who has reviewed more than 100 technology companies for private equity investors in the United Kingdom, Europe and the United States before they invested. He has held chief technology officer and chief architect roles across Europe, the Middle East and Asia, and has operated artificial intelligence systems in production since 2011.