Chimera Capital Ltd has closed its first venture capital fund at US$75 million. The company is an ADGM regulated fund manager and a wholly owned subsidiary of Chimera Investment LLC (the Abu Dhabi-based private investment firm managing a diversified portfolio of listed and private equities around the world).
Chimera Global Fund I LP (“the Fund”) is backed by a number of regional and global Limited Partners including Mubadala Investment Company. The Fund’s third and final funding round saw it exceed its initial US$65 million target in less than two months, validating the attractive investment opportunity offered by Chimera Capital.
“We are pleased to announce the close of our first VC fund and are proud to be supported by several strategic Limited Partners including leading financial institutions from around the region,” said Chimera Capital’s Chairman Syed Basar Shueb. “The Fund delivers on our mission of expanding the region’s investment universe while simultaneously enabling us to press forward with our vision of establishing Chimera Capital as a leading regional asset manager.”
Ibrahim Ajami, Head of Ventures and Growth at Mubadala, said, “We are delighted to be strengthening our partnership with Chimera Capital by investing in its first venture capital fund. Mubadala is committed to supporting funds that enhance the region’s investment venture ecosystem and invest in fast growing global digital disruptors. We are looking forward to a long and successful partnership with Chimera.”
Chimera Capital continues to target investments that are well-diversified geographically, and encompass stages spanning from early growth to pre-IPO. The company plans to hold investments for periods ranging from two to five years, and has already executed on a series of strategic and oversubscribed companies led by top-tier regional and global investors.
“Our diversified investment strategy along with Chimera’s unique access gives the Fund a differentiated value proposition which generated strong interest from investors,” added Chimera Capital’s Chief Investment Officer Karim Radwan. “Looking ahead, we have a robust pipeline of opportunities we are keen to execute on as we work to deliver outsized returns for our valued investors.”
Chimera Global Fund I LP is an Abu Dhabi Global Market regulated fund.