Alpha Dhabi Holding, which is listed on the Abu Dhabi Securities Exchange, has signed an agreement to commit $1 billion (Dh3.67 billion) to Alpha Wave III, a global investment fund managed by Alpha Wave Global.
It gives the Abu Dhabi-based investment holding company diversified exposure to artificial intelligence (AI) companies through the fund.
The agreement follows Alpha Dhabi’s participation in Alpha Wave Ventures II, through which the group obtained indirect exposure to companies including SpaceX, OpenAI and Anthropic.
Alpha Wave III is expected to invest globally in AI and high-growth businesses that develop and apply transformative technologies. Alpha Dhabi said the fund offers access to structural growth themes through a specialist platform focused on long-term value creation.
Headquartered in Abu Dhabi, Alpha Dhabi Holding manages a portfolio of more than 250 public and private investments across 45 countries. The group has a global workforce of 95,000 employees.
Capital deployment
Eng. Hamad Al Ameri, managing director and group CEO of Alpha Dhabi Holding, said the commitment builds on the group’s earlier participation and broadens its access to AI and innovation-led opportunities.
“This investment supports our portfolio diversification objectives and our focus on long-term value creation. It also reflects our disciplined approach to allocating capital to opportunities that can create enduring value for our shareholders,” he said.
Alpha Dhabi intends to fund the investment by recycling cash distributions from Alpha Wave Ventures II, alongside existing resources.
Its capital will be deployed over time in line with capital calls and the fund’s investment programme.
Returns will depend on the performance and valuation of the underlying investments, with value expected to be realised through distributions and exits over the life of the fund.
The financial impact will be recognised over time, reflecting the timing of capital deployment and the performance of the fund’s underlying investments.
For investors, the commitment is intended to enhance portfolio diversification and support attractive long-term risk-adjusted returns, the company said.
The commitment remains subject to any applicable approvals.
Source: Khaleej Times