Alpha Dhabi to invest $2.5b in new venture capital fund

Abu Dhabi / WAM

Alpha Dhabi Holding announced its commitment to invest AED9.2 billion ($2.5 billion) in Chimera Capital and Alpha Wave’s landmark “Alpha Wave Ventures II” venture fund, which was announced and launched at the beginning of the year.
The total commitment comprises a capital contribution of AED2.6 billion and an undrawn capital commitment of AED6.6 billion, which will be drawn down over the fund’s investment period.
The venture capital fund — which has already begun making investments — has a global remit and will focus on multi-stage private firms, concentrating on growth-stage companies across a wide range of sectors, including artificial intelligence, financial technology, life sciences,
consumer internet and B2B.
The fund’s investment emphasis is in line with Alpha Dhabi’s growth strategy, which is focused, in part, 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. As a key and strategic contributor to the UAE’s economy and diversification efforts, the fund and its commitment to strengthen Abu Dhabi’s position as a hub of innovation and technology and amplify the country’s growing position as a premier investment destination for international, institutional and growth capital.
Hamad Al Ameri, CEO of Alpha Dhabi Holding, said, “Investment in innovation and technology remains a core tenet of our growth strategy at Alpha Dhabi. We continually look at investments in disruptive technologies to advance 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.”
“The commitment also enhances the scale and weight of our balanced portfolio by adding sector, geographic and company size diversification while providing Alpha Dhabi with considerable deal flow and access across key markets including the USA.”