New Abu Dhabi fund exceeds target of $50m in latest close

Web Desk BOL News

26th Oct, 2021. 11:00 am

DUBAI: An Abu Dhabi-based global fund has surpassed its target of $50 million in its second raise, as it aims at deploying investments to a dozen companies in Series A and pre-IPO stages.

The Chimera Global Fund, managed by Chimera Capital, said it has a “robust pipeline of opportunities” in a number of sectors, including financial technology, educational technology, and health technology.

“The fund aims at deploying tickets of up to $5 million in 12 to 15 companies that span from Series A to pre-IPO stages,” its chief investment officer, Karim Radwan, said; following the recent fundraising round.

“We will focus on growth stage opportunities and plan to hold investments for a period varying from two to five years,” he added.

The fund has got some strong names in its portfolio, with marquee investments in online learning platform Coursera, Egyptian transport startup SWVL, and cloud kitchen Kitopi.

It will continue looking for opportunities in the US, Southeast Asia, and the Middle East, Chimera Capital Chairman Syed Basar Shueb said.