Chimera closes USD 10 bn venture capital fund
Our friends at the UAE’s Chimera closes fundraising for one of the largest funds in VC history: Our friends at Abu Dhabi-based investment firm Chimera Capital have closed their second venture capital fund at USD 10 bn, according to a company press release (pdf). The Alpha Wave Ventures II fund — one of the largest-ever VC funds — is co-managed by New York-based Alpha Wave and will target tech-driven, growth-stage companies globally, with a focus on India, Chimera CEO Seif Fikry told Bloomberg. Chimera, a unit of Abu Dhabi’s Royal Group, hit final close on their first venture capital fund at USD 75 mn in December, and recently bought 25% of Sawiris vehicle Gemini Global Development, which owns Ora Developers Egypt.
What they said: Alpha Ventures II builds “on the successful launch of five ETFs and a global venture capital fund, and the strong track record of successful fund deployments and deal executions developed over the past three years,” said Firky added.
ADQ hopes to raise USD 1.1 bn from Abu Dhabi Ports share sale: Abu Dhabi’s sovereign wealth fund is looking to raise up to USD 1.1 bn from its sale of 1.3 bn shares in Abu Dhabi Ports, Bloomberg reports, citing sources familiar with the matter. ADQ is hoping to list the shares on 8 February. ADQ had initially planned to list the company — which accounts for about 14% of Abu Dhabi’s non-oil growth — before the end of 2021.
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THE CLOSING BELL-
The EGX30 fell 0.6% yesterday on turnover of EGP 688 mn (39.5% below the 90-day average). Local investors were net buyers. The index is down 3.4% YTD.
In the green: Speed Medical (+2.2%), GB Auto (+2.1%) and Heliopolis Housing (+1.6%).
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