- Abu Dhabi-based Chimera Capital, a subsidiary of private investment firm Chimera Investment, has announced the close of its second fund valued at $50 million.
- Chimera will be targeting startups in the US, Middle East and Southeast Asia in the fintech,edtech and healthtech space.
- It plans to deploy tickets of up to $5 million in 12-15 companies that span from Series A to pre-IPO stages.
- Chimera Capital is targeting its third and final close in the fourth quarter of this year.
- Its current portfolio includes Coursera, SWVL and Kitopi.
Chimera Capital Ltd (Chimera Capital), an ADGM regulated fund manager and a wholly owned subsidiary of Chimera Investment LLC (the Abu Dhabi-based private investment firm managing a diversified portfolio of listed and private equities around the world), achieves second close of Chimera Global Fund I LP (the Fund) surpassing its initial target of $50 million. The Fund aims to provide superior risk-adjusted returns for investors seeking access to a portfolio of investments at various stages that are well-diversified geographically.
The Fund’s portfolio currently includes a number of marquee investments, namely Coursera, an online-learning platform; Divvy, an expense management platform; SWVL, a provider of transformative mass transit and shared mobility solutions; and Kitopi, the world’s leading managed cloud kitchen.
“We began fundraising in May 2021 with a target of $50 million for the fund. To date, the Fund’s composition, accelerated track record and level of deployment led to strong demand from investors, enabling us to surpass our initial target,” said Chimera Capital’s Chairman Mr. Syed Basar Shueb. “The Fund’s global mandate will see us continue investing in distinguished and unique companies in the United States, the Middle East and Southeast Asia, while opportunistically considering other geographies. We have a robust pipeline of opportunities across multiple sectors including FinTech, EdTech and HealthTech, some of which will be reflected in the Fund following our second close,” Mr. Shueb added.
“Chimera Investments anchored the Fund with $25 million, which helped capture emerging global opportunities in tech and tech-enabled businesses,” said Chimera Capital’s Chief Investment Officer Mr. Karim Radwan. “Chimera’s unique deal-sourcing network along with its disciplined investment approach saw our team assess more than 100 investment opportunities, and successfully execute on a number of oversubscribed and attractive companies led by top-tier fund managers from around the world,” Mr. Radwan added.
“The Fund aims to deploy tickets of up to $5 million in 12-15 companies that span from Series A to pre-IPO stages. We will focus on growth stage opportunities and plan to hold investments for a period varying from two to five years,” Mr. Radwan said.
“The Fund delivers on our strategy of expanding the region’s investment universe and builds on previous successes at Chimera Capital, including the launch of four equity ETFs,” said Mr. Shueb. “Chimera is a firm believer in the Abu Dhabi Government’s vision of establishing the Emirate as an asset management hub for the region, and we are proud to be playing an active role in its realization by continuing to offer new and innovative asset management products to help grow the industry,” Mr Shueb concluded.
Chimera Global Fund, I LP is an Abu Dhabi Global Market regulated fund and is targeting its third and final close in the fourth quarter of 2021.