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Alpha Dhabi Holding PJSC is one of the fastest growing investment holding companies in the UAE, listed on the Abu Dhabi Stock Exchange (ADX: Alphadhabi) and has committed AED 9.2 billion to invest in Chimera Capital and Alpha Wave’s iconic buildings” Alpha Wave Ventures’ announced the launch of its II’ venture capital fund earlier this year.
The total commitment includes AED 2.6 billion in contributions and AED 6.6 billion in undrawn capital commitments to be drawn over the fund’s investment period.
The venture capital fund, which has already started investing, has a global footprint and will focus on multi-stage private companies with a focus on artificial intelligence, financial technology, life sciences, consumer internet and B2B. The fund’s investment focus is in line with Alpha Dhabi’s growth strategy, which focuses in part on investing in disruptive technologies, as part of the UAE’s ambition to create a diverse, technology-driven and competitive economy that fosters a culture of innovation.
The fund will invest in high-growth, technology-driven and technology-driven businesses that provide pioneering and innovative solutions to critical regional and global problems. As a key and strategic contributor to the UAE’s economic and diversification efforts, the Fund and our commitment strengthen Abu Dhabi’s position as an innovation and technology hub and expand the country as a key investment destination for international, institutional and growth capital of growing status.
Britain. Hamad Al Ameri, CEO, Alpha Dhabi Holdingsaid: “Investment in innovation and technology remains a core tenet of our growth strategy at Alpha Dhabi. We continue to see investment in disruptive technologies as a means to drive the growth of our group of operating subsidiaries, which include their respective A market leader in the field. As a cornerstone and key investor in the Fund, we are able to demonstrate a strong commitment to innovation, technology and growth-stage companies, while expanding the size of our portfolio and delivering superior returns to our shareholders. “
This commitment also enhances the size and weight of our balanced portfolio by increasing industry, geographic and company size diversification, while providing Alpha Dhabi with substantial deal flow and access to key markets, including the United States. In addition, it supports our commitment to bring best-in-class technology and innovation to Abu Dhabi and our ecosystem by leveraging synergies and integrating disruptive technologies into our operating subsidiary group, thereby enhancing their qualifications and offerings.
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