Abu Dhabi's Chimera closes second venture capital fund at $10 bln | Reuters
Abu Dhabi investment firm Chimera Capital said on Tuesday it closed its second venture capital (VC) fund at $10 billion, as it looks to find multi-million dollar opportunities in "growth-stage" companies.
The new fund, Alpha Wave Ventures II, will focus on the financial tech, artificial intelligence, life sciences, consumer internet and business to business sectors. Chimera said. The $10 billion fund is co-managed with U.S. alternative asset manager Alpha Wave Global, formerly known as Falcon Edge Capital.
"Put them together, and you have a large fund that can basically invest on a larger scale in basically growth stories," said Karim Radwan, Chimera Capital's chief investment officer.
Limited partners in the VC fund are all local and regional investors, Radwan said, declining to name them. He said the fund will invest between tens of millions and up to $100 million in growth-stage companies, typically between series A and pre-initial public offering (IPO).
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