A United Arab Emirates investment firm linked to an influential member of Abu Dhabi’s ruling family has emerged as a backer of one of the largest funds in venture capital history, joining forces with New York-based Alpha Wave to deploy $10 billion with a focus on India.
Chimera Capital, part of a business empire overseen by Sheikh Tahnoon Bin Zayed, said the Alpha Wave Ventures II Fund will target companies that have yet to go public, focusing on a range of assets from financial technology to artificial intelligence and life sciences.
Alpha Wave, originally named Falcon Edge Capital, will work with it to identify and manage investment opportunities in pursuit of “a global mandate with a special focus on India,” Seif Fikry, Chimera’s chief executive officer, said in an emailed reply to Bloomberg questions.
The fund’s second close at $10 billion puts the haul in the same league as investment vehicles by Andreessen Horowitz, Tiger Global Management and Sequoia Capital. Chimera said the fund’s backers include a mix of large institutional investors, and it expects the ticket size could range from “tens of millions to hundreds,” according to Fikry.
No comments:
Post a Comment