Abu Dhabi-listed investment holding company Alpha Dhabi Holding has agreed to commit $1 billion, or about AED 3.67 billion, to Alpha Wave III, a global fund managed by US investment firm Alpha Wave Global.
The fund is expected to invest in artificial intelligence and high-growth technology businesses developing and applying transformative technologies worldwide. The commitment remains subject to applicable approvals.
The investment follows Alpha Dhabi’s participation in Alpha Wave Ventures II, through which it gained indirect exposure to companies including SpaceX, OpenAI and Anthropic. Rather than selecting individual companies, the new commitment gives Alpha Dhabi exposure to a broader portfolio of AI and technology investments.
Alpha Dhabi said it will deploy the capital over time through fund capital calls and plans to finance the commitment using cash distributions from Alpha Wave Ventures II and existing resources. The financial impact will be recognised over the life of the investment.
The company said returns will depend on the performance and valuation of the fund’s underlying investments, with the commitment supporting portfolio diversification and long-term risk-adjusted returns. Alpha Wave III is registered in the Cayman Islands.
Source: Middle East AI News
