Commitment to co-invest in up to fifty AI companies over five years as part of the AIV50 Business Management Program
singapore – Newsfile Corp. – July 25, 2022 – Raffles Financial Group Limited (CSE: RICH ) (FSE: 4VO ) (OTCQX: RAFFF ) — AIV50 has announced its financing plans with Raffles Financial Pte Ltd (“RFG”) which will advise and lead capital raising strategies with its network of family offices, sovereign funds and private equity companies. RFG’s first investment in one of AIV50’s AI ventures, called TAFGAI (The Accounting and Finance Group in AI) as its strategic initiative in the AI space.
The potential for return on investment in AI is huge. McKinsey estimates that AI can deliver additional economic output of around US$13 trillion by 2030, increasing global GDP by around 1.2% per year. Meanwhile, Accenture predicts that by 2035, AI could double annual global economic growth rates. A study by PricewaterhouseCoopers (PwC) estimates that global GDP may increase by up to 14% (equivalent to US$15.7 trillion) by 2030 as a result of accelerated development and adoption of i.a.
AIV50 Founder/Chairman Professor M Nazri explains, “The focus of AIV50 is to deepen its traction in the AI ecosystem. We encourage companies to adopt AI to see the merits of adoption. They must clearly see the benefits of digital transformation. We also provide the necessary resources and support to ensure the success of the transformation, the end result is that their business models are improved with additional margins of at least 20% with the option to participate in our firm as a long-term commitment to help them grow.”
According to AIV50, the strategic investment led by RFG of approximately 10% in “TAFGAI” (The Accounting and Finance Group in AI), valued at US$115 million, will help expand its network offering of family offices, accredited investors and RFG institutions. investors, as well as the field of digital assets. TAFGAI is a niche finacctech firm using AI technology for financial and risk assessment, market insights, board effectiveness and internal audit. Today, TAFGAI is profitable and has a strong technology leadership position in the natural language space serving listed companies, government agencies, small and medium enterprises and professional services companies in Asia-Pacific. AIV50 and RFG have already started preparations for the public listing of TAFGAI on one of the stock exchanges in North America.
AIV50 and RFG are in talks with various parties for potential mergers in North America for their portfolio of AI companies in their respective verticals. This is part of AIV50’s inclusive growth to accelerate its shareholder value.
Dr. Charlie In, founder of Raffles Financial, added: “RFG’s role extends beyond equity funding. We will provide resources and advisory services to AIV50 and its AI venture firms in corporate governance, mergers and acquisition strategy, as well as in pre- and post-public listing management. . These contributions will accelerate the AIV50 and its venture companies to grow and expand rapidly to serve a blue-sky market opportunity.”
AIV50 is an AI Venture Builder with 50 patented and award-winning AI technologies that help companies improve their business models by digitizing their core businesses with M&A strategies. AIV50 helps overcome the challenges faced by companies struggling with AI adoption due to many barriers such as talent, infrastructure and cost-benefit issues.
Raffles Financial Pte Ltd (“RFG”) is based in Singapore and provides corporate finance and public listing advisory and management services to Asian companies seeking to list on US stock exchanges and Singapore digital asset exchanges .
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