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Alpha Dhabi to invest AED 9.2bn in Alpha Wave Ventures II

Alpha Dhabi to invest AED 9.2bn in Alpha Wave Ventures II
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Alpha Dhabi
ALPHADHABI
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Abu Dhabi - Mubasher: Alpha Dhabi Holding will invest AED 9.2 billion in the Alpha Wave Ventures II fund of Chimera Capital and Alpha Wave.

The company will allocate undrawn capital of AED 6.6 billion, which will be drawn down over the investment period of the fund, according to a press release on Thursday.

Launched at the beginning of 2022, the venture capital fund will focus on multi-stage private and growth-stage companies across various sectors, including artificial intelligence (AI), financial technology, life sciences, and consumer internet.

The CEO of Alpha Dhabi Holding, Hamad Al Ameri, commented: "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."

Meanwhile, Al Ameri added: "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."