UAE-based investment holding company Alpha Dhabi Holding listed on the Abu Dhabi Securities Exchange made a 9.2 billion dirhams commitment to investing 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.
The total commitment comprises a capital contribution of 2.6 billion dirhams and an undrawn capital commitment of 6.6 billion dirhams which will be drawn down over the investment period of the Fund.
The Fund aims to bring the best technology and innovation to Abu Dhabi and its ecosystem by leveraging synergies and integrating disruptive technologies into the group of operating subsidiaries, thereby enhancing their credentials and offerings.
The investment is in line with Alpha Dhabi’s growth strategy, which is focused, in part, on investment in disruptive technologies as part of the UAE’s ambition to create a diversified, tech-enabled, and competitive economy that fosters a culture of innovation.
In recent news, Alpha Dhabi Holding also made a 367 million dirham investment in Dubai Electricity and Water Authority’s (DEWA) initial public offering (IPO).
