UAE - Mubasher: Chimera Capital, regulated by Abu Dhabi Global Market (ADGM) and a wholly-owned subsidiary of Chimera Investment, has closed its first venture capital fund at $75 million.

With third and final funding round exceeding its initial $65 million target in less than two months, Chimera Global Fund I LP is backed by a number of regional and global Limited Partners, including Mubadala Investment Company, according to a press release on Monday.

Chimera Capital seeks to invest in well-diversified geographical opportunities from early growth to pre-IPO, alongside its plans to enter into investments for periods ranging from two-five years.

Chimera Capital’s Chairman, Syed Basar Shueb, said: "The Fund delivers on our mission of expanding the region’s investment universe while simultaneously enabling us to press forward with our vision of establishing Chimera Capital as a leading regional asset manager."

Meanwhile, the Head of Ventures and Growth at Mubadala, Ibrahim Ajami, commented: "Mubadala is committed to supporting funds that enhance the region’s investment venture ecosystem and invest in fast-growing global digital disruptors."