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In its second official closing of Chimera Global Fund I LP, Chimera Capital Ltd (Chimera Capital), an ADGM-regulated fund manager and wholly-owned subsidiary of Chimera Investment LLC, the Abu Dhabi-based private investment firm managing a diversified portfolio of listed and private equities globally, surpassed its initial target of $50M.
Chimera Global Fund I LP is an Abu Dhabi Global Market regulated fund and is targeting its third and final close in the fourth quarter of 2021. The Fund aims to provide superior risk-adjusted returns for investors seeking access to a portfolio of investments at various stages that are well-diversified geographically. The Fund’s portfolio currently includes a number of marquee investments, namely Coursera, an online learning platform; Divvy, an expense management platform; SWVL, a provider of transformative mass transit and shared mobility solutions; and Kitopi, the world’s leading managed cloud kitchen.
As we release our full suite of Q3 2021 EVM Venture Investment Reports, we observe a yearly record of investment participation across MENA, Turkey, and Pakistan. Marking record-highs in both, overall investment activity where number of active investors doubled in Pakistan, and foreign investor participation grew their share of total investment in MENA by 11%YoY by Q3 2021, is a promising feat for the startup ecosystem in Emerging Venture Markets. As observed in our UAE Q3 2021 Venture Investment Report, 28% of this record number of active investors across MENAPT were based in the UAE with prominent investors like Global Ventures, Mubadala Ventures, VentureSouq, MEVP, and Class 5 Global closing major rounds in 2021 YTD.
Chimera Capital’s Chairman Mr. Syed Basar Shueb elaborated that the UAE-based Fund began fundraising in May 2021 with a target of $50M, yet the Fund’s composition, accelerated track record, and level of deployment led to strong demand from investors, surpassing the initial target. Mr. Shueb highlighted “The Fund’s global mandate will see us continue investing in distinguished and unique companies in the United States, the Middle East, and Southeast Asia, while opportunistically considering other geographies. We have a robust pipeline of opportunities across multiple sectors including FinTech, EdTech, and HealthTech, some of which will be reflected in the Fund following our second close.”
In a strategic move that reflects business foresign and acumen by the UAE-based firm, Chimera Investments anchored the Fund with $25M which helped capture emerging global opportunities in tech and tech-enabled businesses as mentioned by Chimera Capital’s Chief Investment Officer Mr. Karim Radwan.
“Chimera’s unique deal-sourcing network along with its disciplined investment approach saw our team assess more than 100 investment opportunities, and successfully execute on a number of oversubscribed and attractive companies led by top-tier fund managers from around the world,” Mr. Radwan added.
The Fund aims to deploy tickets of up to $5M in 12-15 companies that span from Series A to pre-IPO stages. The global-focused fund will focus on growth stage opportunities and plan to hold investments for a period varying from two to five years. In light of the second and before final closing of their Fund, Mr. Shueb concluded “The Fund delivers on our strategy of expanding the region’s investment universe and builds on previous successes at Chimera Capital, including the launch of four equity ETFs. Chimera is a firm believer in the Abu Dhabi Government’s vision of establishing the Emirate as an asset management hub for the region, and we are proud to be playing an active role in its realization by continuing to offer new and innovative asset management products to help grow the industry.”
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