UAE's Chimera Capital Closes Second VC Fund at $10 Billion

Published January 25th, 2022 - 10:03 GMT
UAE's Chimera Capital Closes Second VC Fund at $10 Billion
Established in 2007, Chimera is part of Abu Dhabi’s Royal Group that is overseen by Sheikh Tahnoon Bin Zayed. (Shutterstock)

Chimera Capital, an Abu Dhabi asset management company, announced on Tuesday the closure of its second venture capital (VC) fund at $10 billion (Dh36.7bn).

According to Chimera's statement, the new fund, Alpha Wave Ventures II, will focus on the financial tech, artificial intelligence, life sciences, consumer internet and B2B sectors.

Chimera's CEO, Seif Fikry, told Bloomberg that the new fund that is co-managed by New York-based Alpha Wave (formerly known as Falcon Edge Capital) will identify and manage investment opportunities in pursuit of “a global mandate with a special focus on India”.

“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,” said Syed Shueb, chairman of Chimera Capital.

Chimera Capital is a fund manager regulated by the Abu Dhabi Global Market (ADGM) and is a wholly owned subsidiary of Chimera Investment.

Established in 2007, Chimera is part of Abu Dhabi’s Royal Group that is overseen by Sheikh Tahnoon Bin Zayed. It operates in various vital sectors including property, construction, food and beverages, hospitality, aviation and health care. 


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