Alpha Dhabi Holding, an Abu Dhabi-based investment company, will invest 9.2 billion dirhams ($2.5 billion) in Alpha Wave Ventures II; a venture fund which focuses on financial tech, artificial intelligence, life sciences, consumer internet, and B2B.
With the investment, Alpha Dhabi Holding will become the fund’s cornerstone investor.
Launched early this year with funds around $10 billion, Alpha Wave Ventures is co-managed by Chimera Capital, an Abu Dhabi investment fund, along with US alternative asset manager Alpha Wave Global, formerly known as Falcon Edge Capital.
Alpha Dhabi’s total commitment comprises a capital contribution of 2.6 billion dirhams and capital commitment of 6.6 billion dirhams which will be drawn down over the investment period of the fund.
Chimera Capital Ltd (Chimera Capital) provides investors with unique and innovative investment offerings. The firm structures innovative investment instruments with a primary focus on the alternative asset management space.
The asset management company is a firm believer in the potential of MENA asset classes with a particular focus on the Gulf Cooperation Council (GCC).