Wednesday, February 28, 2024

Alpha Abu Dhabi invests 9.2 billion dirhams in Alpha Wave Ventures 2

Date:

Alpha Abu Dhabi Holding announced earlier this year its commitment to invest 9.2 billion dirhams in the venture capital fund “Alpha Wave Ventures 2” launched by “Shimera Capital” and “Alpha Wave Global”.

The total commitment mentioned above includes a capital contribution of 2.6 billion dirhams and an unsecured capital liability of 6.6 billion dirhams, which will be repaid over the period of investment in the fund.

Global finance

Alpha Wave Ventures 2, which has already begun investing, is a global fund to invest in private, multi-share companies, with a particular focus on emerging companies in a variety of fields, including artificial intelligence, financial services technology, and life sciences. And electrical services for consumers, businesses and corporations.

Competitive economy

The investment focus of the fund is in line with Alpha Abu Dhabi’s growth strategy, which focuses on investing in innovative technologies that support the UAE’s ambition to establish a technology-based diversified competitive economy and promote a culture of innovation.

Unique investments

The fund aims to make unique investments in reputed companies that provide innovative solutions to the most important local and regional problems, depending on the use of advanced technology and technologies.

Emerging from its strategic contribution to the country’s economic diversification efforts, the fund has been instrumental in securing Abu Dhabi’s position as a hub for innovation and technology development, and strengthening the United Arab Emirates’ position as a hub for international and institutional investment and growth capital. .

Innovation and technology

Hamad Al Ameri, CEO of Alpha Abu Dhabi Holdings, said: “(Alpha Abu Dhabi) Development Strategy focuses on investing in innovation and technology, and focuses specifically on technologies that establish fundamental change as the key way to advance our team. Improving their leadership role in companies and their fields. As one of the Fund’s key investors, we can express this commitment to innovation, technology and emerging companies, while at the same time expanding our investment portfolio and providing greater returns to our shareholders.

See also  Gold rises when fears return on Evergrande

Balanced portfolio

Alpha Abu Dhabi’s commitment contributes to enhancing the scope and weight of its balanced portfolio and increasing its size by diversifying into areas of the company’s business sectors and operations. United States.

This investment supports Alpha Abu Dhabi’s commitment to bring the best technologies and innovations to Abu Dhabi and supports the company’s investment structure, integrating innovative technologies into its subsidiary group and contributing to enhancing its capabilities and offerings. .


Follow our latest local and sports news and the latest political and economic developments via Google News

Share

Print




Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

Share post:

Popular

More like this
Related

The Future of Gambling in the UAE: Economic, Legal, and Social Dimensions

The United Arab Emirates (UAE) is on the brink...

Comparing the Best Trading Platforms in the UAE: Features and Benefits

Trading commodities, currency pairs, ETFs, and other investment vehicles...

Evgenia Timofeenko: What does it mean to be an investor in the hotel business?

Investors are always interested in finding effective objects for...

AFC Champions League 2023/24: Last-16 Fixtures, Latest Odds & Preview

The 2023/24 AFC Champions League group stage has been...