Alpha Dhabi to invest $2.5 billion in Alpha Wave Ventures II fund
- UAE-based investment company Alpha Dhabi Holding PJSC has made a Dh9.2 billion ($2.5 billion) commitment to invest in Chimera Capital and Alpha Wave’s VC fund Alpha Wave Ventures II.
- The investment is divided into a capital contribution of $708 million and an undrawn capital commitment of $1.8 billion, which will be drawn down over the fund's investment period.
- The VC fund, which has a global remit, will focus on multi-stage private firms, concentrating on growth-stage companies across various sectors such as AI, fintech, life sciences, consumer internet and B2B.
Alpha Dhabi Holding PJSC, one of the fastest-growing investment holding companies in the UAE, listed on the Abu Dhabi Securities Exchange (ADX: Alphadhabi), has made a DH9.2 billion commitment to invest 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 DH2.6 billion and an undrawn capital commitment of DH6.6 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, with a concentration on growth-stage companies across a wide range of sectors including artificial intelligence, financial technology, and 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 our commitment 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.
Eng. 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 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.”
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. Furthermore, it supports our commitment to bring best-in-class technology and innovation to Abu Dhabi and our ecosystem by leveraging synergies and integrating disruptive technologies into our group of operating subsidiaries, thereby enhancing their credentials and offerings.