Alpha Dhabi to invest AED9.2 billion in 'Alpha Wave Ventures II' fund

• Published date: 19 May 2022
• Publication title: LETA

Alpha Dhabi Holding has announced its commitment to invest AED9.2 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...