Alpha Dhabi to invest $2.5 billion in Alpha Wave Ventures II fund

Alpha Dhabi to invest $2.5 billion in Alpha Wave Ventures II fund
Source: WAM

Alpha Dhabi Holding, investment holding company in the UAE, to invest 9.2 billion AED (which accounts to $2.5 billion) in Chimera Capital and Alpha Wave’s Ventures II venture fund.

The total commitment comprises a capital contribution of 2.6 billion dirhams and an undrawn capital commitment of 6.6 billion dirhams, which will be drawn down over the fund’s investment period.

The venture capital fund will focus on multi-stage private firms, with a concentration on growth-stage companies across a wide range of sectors including artificial intelligence, FinTech, life sciences, consumer internet and B2B.

“Investment in innovation and technology remains a core tenet of our growth strategy at Alpha Dhabi. We continually look at investments in disruptive technologies as a means of advancing our group of operating subsidiaries which include market leaders in their respective sectors. As a cornerstone and significant investor in this fund, we are able to firmly demonstrate this commitment to innovation, technology and growth-stage companies while also adding scale to our investment portfolio and delivering superior returns for our shareholders,” Hamad Al Ameri, CEO of Alpha Dhabi Holding, said.

The fund’s investment emphasis is in line with Alpha Dhabi’s growth strategy, which focuses on investment in disruptive technologies as part of the UAE’s ambition to create a diversified, tech-enabled and competitive economy that fosters a culture of innovation.

The fund will target investments in high growth, tech-enabled and tech-driven businesses that provide pioneering and innovative solutions to key problems both regionally and globally.

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