Abu Dhabi:Alpha Dhabi Holding PJSC, an investment holding company based in Abu Dhabi, has announced a significant investment commitment of US$1 billion (approximately AED3.67 billion) to Alpha Wave III, a global investment fund managed by Alpha Wave Global.

According to Wam, this commitment aligns with Alpha Dhabi's strategy to diversify its portfolio by gaining exposure to artificial intelligence companies through the fund, subject to any necessary approvals.

Alpha Wave III aims to invest globally in artificial intelligence and high-growth businesses focused on transformative technologies. This investment is expected to enhance Alpha Dhabi's portfolio diversification and support long-term value creation through structural growth themes. The capital from Alpha Dhabi will be deployed over time, in accordance with capital calls and the fund's investment program, which will determine the returns based on the performance and valuation of the underlying investments.

Eng. Hamad Al Ameri, Managing Director and Group CEO of Alpha Dhabi Holding, highlighted the commitment as a continuation of their participation in Alpha Wave Ventures II. He emphasized that this move broadens Alpha Dhabi's access to innovation-led opportunities and supports their objectives of portfolio diversification and long-term value creation. The investment will be funded through the recycling of cash distributions from Alpha Wave Ventures II and other existing resources.

Alpha Dhabi intends to recognize the financial impact over time, reflecting the capital deployment and performance of the fund's investments. Further disclosures will be made as necessary under applicable laws and ADX rules.