UAE's Chimera Capital announces second close of VC fund at $10bn
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UAE’s Chimera Capital announces second close of VC fund at $10bn

UAE’s Chimera Capital announces second close of VC fund at $10bn

The fund will target businesses with a focus on fintech, AI, life sciences, consumer internet and B2B sectors

Chimera Capital, a fund manager regulated by the Abu Dhabi Global Market, has announced the second close of its Alpha Wave Ventures II fund at $10bn.

The fund is Chimera Capital’s second venture capital fund, and is co-managed with Alpha Wave Global (formerly Falcon Edge Capital).

The fund will target assets globally with a focus on fintech, AI, life sciences, consumer internet and B2B sectors, a statement said.

Alpha Wave Ventures II is a multi-stage fund primarily concentrated on growth stage companies with clear exit strategies.

Basar Shueb, chairman of Chimera Capital, commented: “The second close of Alpha Wave Ventures II at $10bn marks another significant milestone for Chimera, further solidifying our leading position in the region’s venture capital space. Through the fund, we will be investing in dynamic, tech-driven businesses that are providing innovative solutions to key problems, contributing to the development of the local knowledge economy while strengthening Abu Dhabi’s position as a hub of innovation and technology.”

“The Alpha Wave Ventures II Fund will provide large institutional investors with a platform to deploy significant amounts of capital in growth stage companies,” Seif Fikry, CEO at Chimera Capital told Gulf Business. 

Chimera Capital is a wholly-owned subsidiary of Chimera Investment, an Abu Dhabi-based private investment firm.

Earlier this month, Chimera Capital listed the Chimera S&P KSA Shariah exchange-traded fund in Abu Dhabi.

Read: Fund in Abu Dhabi tracking Saudi shares is a first for Gulf ETFs

The product will allow traders in the UAE to track Saudi stocks via a local bourse.

Also read: Why you should consider investing in UAE-listed ETFs

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