Falcon Edge scoops $300 Mn from Abu Dhabi & UAE for its India-focused VC fund

Image details: Falcon Edge Co-founder, Rick Gerson; credits: falconedgecap.com


New York, US-based global alternative asset manager Falcon Edge on Tuesday announced that it has raised a $300 million for its India-focused venture capital fund called Alpha Wave Incubation (AWI). The VC fund is backed by an undisclosed government entity of Abu Dhabi and other investors from the UAE.

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As reported by the Economic Times, Alpha Wave Incubation aims to back Indian startups working in the Artificial Intelligence and Machine Learning domain. Also, AWI will build a dedicated team to run this fund, which will invest up to $5 million in startups.

This India-focused fund backed by UAE is expected to be a catalyst to boost entrepreneurship in the Emirates and suppress its dependence on the energy industry.

Pradeep Singh
Pradeep Singh

Former interim CTO at LAFFAZ. A full-stack developer, possessing 6+ years of experience in working closely with tech startups in India and UAE.

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