Falcon Edge Capital, the US based venture capital firm that has backed several high profile startups in the US and beyond, has raised a new $300 Million fund for India-specific investments, according to a report in Times Of India. Falcon Edge counts the likes of SpaceX, Lyft, Didi Chuxing, Ant Financial, Domino’s Pizza China among others as its global investments. In India, the firm has backed the likes of Ola, DealShare, mSwipe, Quickr among others.
The new investment vehicle has been named Alpha Wave Incubation, and is reportedly anchored by an undisclosed entity of the Government of Abu Dhabi and investors from the UAE. The new fund is looking at closing 30 fast-track deals in a matter of 12-15 months, and would also invest in part in South East Asian companies. Typical investments from the new fund, will range anywhere between $50,000 to $5 million.
According to sources that have talked to TOI, “The core focus of the fund is to back startups with capabilities in artificial intelligence and machine learning,”
Interestingly, as a part of the deal made with its Limited Partners the portfolio companies that AWI backs will have to have a core team technology presence in Abu Dhabi, people in the know said.
We have sent email queries to the Falcon Edge team, and will update this piece as soon as we receive a response.