Alpha Dhabi Holding, an Abu Dhabi-based investment holding company, will invest 9.2 billion dirhams ($2.5 billion) in a venture fund launched at the beginning of the year, thus becoming its cornerstone investor.
Alpha Wave Ventures II is a $10 billion fund 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.
Alpha Wave Ventures II focuses on the financial technology, artificial intelligence, life sciences, consumer internet and business to business sectors. This is in line with Alpha Dhabi’s growth strategy, the Abu Dhabi Securities Exchange-listed company said in a bourse statement on Thursday.