Alpha Dhabi to invest Dhs9.2bn in Alpha Wave Ventures II fund

UAE-based investment holding company Alpha Dhabi Holding has committed to invest Dhs9.2bn in Chimera Capital and Alpha Wave’s ‘Alpha Wave Ventures II’ venture fund.

The fund was announced and launched at the beginning of the year.

Alpha Dhabi Holding has made a AED 9.2 billion commitment to invest in Chimera Capital and Alpha Wave’s landmark ‘Alpha Wave Ventures II’ venture fund which was announced and launched at the beginning of the year.#alphadhabi #adh #abudhabi pic.twitter.com/cMiEWjavF7

— Alpha Dhabi Holding (@adh_uae) May 19, 2022

The total commitment involves a capital contribution of Dhs2.6bn and undrawn capital commitment of Dhs6.6bn that will be drawn down over the investment period of the fund.

The venture capital  fund – which has already begun making investments – has a global remit, and will focus on multi-stage private firms, with a concentration on growth stage companies across a wide range of sectors, including artificial intelligence, financial technology, life sciences and consumer internet.

The fund will target investments in high growth, tech-enabled and tech-driven businesses offering innovative solutions to key problems both regionally and globally.

Eng. Hamad Al Ameri, CEO of Alpha Dhabi Holding, said: “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. 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.”

He added that the commitment also enhanced the scale and weight of the company’s balanced portfolio by adding sector, geographic and company size diversification while providing Alpha Dhabi with considerable deal flow and access across key markets, including the US.

Al Ameri also said the investment supports Alpha Dhabi’s commitment to bring best-in-class technology and innovation to Abu Dhabi and its ecosystem by leveraging synergies and integrating disruptive technologies into our group of operating subsidiaries, thereby enhancing their credentials and offerings.

In recent news, Alpha Dhabi Holding also made an Dhs367m investment into Dubai Electricity and Water Authority’s (DEWA) initial public offering (IPO).

Read: Alpha Dhabi invests Dhs367m in DEWA’s IPO