Alpha Dhabi to invest $2.5bn in Abu Dhabi venture fund
Alpha Dhabi Holding, a subsidiary of Abu Dhabi's International Holding Company, has made a Dh9.2 billion ($2.5bn) commitment to invest in a venture fund that will focus on investments in growth-stage companies globally.
The Alpha Wave Ventures II, launched by Chimera Capital and Alpha Wave, will receive a capital contribution of Dh2.6bn and undrawn capital commitment of Dh6.6bn, which will be drawn down over the investment period of the fund. Alpha Dhabi revealed the move in a statement to the Abu Dhabi Securities Exchange, where its shares are traded.
The fund, which was launched earlier this year, has already started to make investments.
With its global remit, the investment vehicle is prioritising private companies with a particular focus on growth-stage businesses across sectors including artificial intelligence, FinTech and life sciences.
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