Chimera Capital's first venture capital fund exceeds initial target

Abu Dhabi, UAE : Chimera Capital Ltd (“Chimera Capital”), 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), achieves second close of Chimera Global Fund I LP (“the Fund”) surpassing its initial target of USD 50 million. 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.  

“We began fundraising in May 2021 with a target of USD 50 million for the Fund. To date, the Fund’s composition, accelerated track record and level of deployment led to strong demand from investors, enabling us to surpass our initial target,” said Chimera Capital’s Chairman Mr. Syed Basar Shueb. “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,” Mr. Shueb added.

“Chimera Investments anchored the Fund with USD 25 million, which helped capture emerging global opportunities in tech and tech-enabled businesses,” said 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 USD 5 million in 12-15 companies that span from Series A to pre-IPO stages. We will focus on growth stage opportunities and plan to hold investments for a period varying from two to five years,” Mr. Radwan said.

“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,” said Mr. Shueb. “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,” Mr. Shueb concluded.

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.

-Ends-

About Chimera Capital Limited

Chimera Capital Limited, an Abu Dhabi-based investment firm, offers its clients unique access to innovative investment instruments with a primary focus on the alternative asset management space. Chimera Capital Limited leverages its parent company’s extensive experience in private investments, an unrivalled regional access to best-in-class service providers and financial intermediaries, and a vast network of high-net-worth individuals, family offices and private investment companies to consistently deliver above-market returns. Chimera Capital Limited, owned by Chimera Investment LLC, is a private limited company incorporated and licensed in the ADGM and regulated by the ADGM Financial Services Regulatory Authority (FSRA).

For further information, please contact:
Chimera Capital Limited
Marie Peguilhan
T: (+971) 0 52 668 0931
E: chimeracapital@kekstcnc.com
www.chimerainvestment.com/  

Forward-Looking Statements 

This communication contains certain forward-looking statements. A forward-looking statement is any statement that does not relate to historical facts and events, and can be identified by the use of such words and phrases as “according to estimates”, “anticipates”, “assumes”, “believes”, “could”, “estimates”, “expects”, “intends”, “is of the opinion”, “may”, “plans”, “potential”, “predicts”, “projects”, “should”, “to the knowledge of”, “will”, “would”, or, in each case, their negatives, or other similar expressions that are intended to identify a statement as forward-looking. This applies, in particular, to statements containing information on future financial results, plans, or expectations regarding our business and management, our future growth or profitability and general economic and regulatory conditions and other matters affecting us.

Forward-looking statements reflect our management’s (“Management”) current views of future events, are based on Management’s assumptions, and involve known and unknown risks, uncertainties, and other factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by these forward-looking statements. The occurrence or non-occurrence of an assumption could cause our actual financial condition and results of operations to differ materially from, or fail to meet expectations expressed or implied by, such forward-looking statements. Our business is subject to a number of risks and uncertainties that could also cause a forward-looking statement, estimate, or prediction to become inaccurate.

Certain figures contained in this document, including financial information, have been subject to rounding adjustments. Accordingly, in certain instances, the sum or percentage change of the numbers contained in this document may not conform exactly to the total figure given.

© Press Release 2021