{"id":553952,"date":"2021-12-14T03:57:05","date_gmt":"2021-12-14T03:57:05","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/14\/chimera-capital-reaches-final-close-on-its-first-vc-fund\/"},"modified":"2021-12-14T03:57:05","modified_gmt":"2021-12-14T03:57:05","slug":"chimera-capital-reaches-final-close-on-its-first-vc-fund","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/14\/chimera-capital-reaches-final-close-on-its-first-vc-fund\/","title":{"rendered":"Chimera Capital reaches final close on its first VC fund"},"content":{"rendered":"

<\/a> Our friends at Abu Dhabi fund manager <\/strong>Chimera Capital<\/a><\/strong> have hit final close <\/strong>on their first venture capital fund at USD 75<\/strong> mn<\/strong>, according to a company press release<\/a>(pdf)<\/a>. The fund, which now counts Abu Dhabi sovereign fund Mubadala<\/a><\/strong> among its limited partners, handily exceeded its initial USD 65 mn target. There\u2019s no word yet on whether some of that could be coming our way, though Chimera says it wants to invest in companies across the region at all stages of their growth, and has \u201calready executed on a series of strategic and oversubscribed companies led by top-tier regional and global investors.\u201d The fund will target companies that are early growth through pre-IPO stage.<\/p>\n

Chimera is a unit of Abu Dhabi\u2019s Royal Group <\/strong>and run by CEO Seif Fikry (LinkedIn<\/a>) an Egyptian veteran of the regional capital markets scene and founder of the region\u2019s first UCITS-compliant exchange-traded fund. A unit of Chimera Capital recently invested USD 100 mn<\/a> in Sawiris vehicle Gemini Global Development, which owns 100% of Ora Developers Egypt.<\/p>\n

MEANWHILE- KSA is expecting a rare budget surplus in 2022: <\/strong>Saudi Arabia is expecting a surplus of nearly USD 24 bn next year, or 2.5% of its GDP, ending nearly a decade of consecutive annual deficits, Reuters<\/a> reports. The kingdom\u2019s revenues surged almost 10% this year on the back of the global oil squeeze, as the crude-exporting nation benefited from price hikes and increased production.<\/p>\n

But spending will be fixed even if oil continues to outperform: <\/strong>\u201cWe are totally now decoupling the government expenditure from the revenue,\u201d Finance Minister Mohammed al-Jadaan told Reuters. Instead, officials are planning budget cuts for the next two years \u2014 though they say that this will be countered by massive spending through the kingdom\u2019s sovereign wealth fund, which will now bankroll most of the country\u2019s development spending, according to Bloomberg<\/a>.<\/p>\n

ADQ\u2019s Agthia has acquired healthy snacks and foods company BMB: <\/strong>Emirati state-owned investment firm ADQ Holding\u2019s food subsidiary Agthia has completed the acquisition of 100% of UAE-based healthy snacks and food company BMB Group<\/a>, according to a press release<\/a>. The acquisition will help Agthia expand to new markets including the US and Canada, as well as venture into new verticals like plant-based foods. This marks the company\u2019s third acquisition this year, following its recent acquisition<\/a> of 75% of Egypt\u2019s Atyab brand owner Ismailia Agricultural and Industrial Investments, and snap-up<\/a> of Kuwait\u2019s Al Faysal bakery. Our friends at EFG Hermes acted as Agthia\u2019s financial advisors in the transaction.<\/p>\n

EV shift drives up lithium prices:<\/strong> Lithium prices are soaring at their fastest pace in years on the back of rising demand from EV manufacturers \u2014 who use lithium for rechargeable batteries \u2014 and scant supply, the Wall Street Journal<\/a> reports. The metal\u2019s price is up around 240% YTD.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

<\/use><\/svg><\/p>\n<\/td>\n\n

EGX30 <\/strong><\/p>\n<\/td>\n

\n

11,700<\/p>\n<\/td>\n

\n

-0.1% (YTD: +7.9%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD (CBE)<\/strong><\/p>\n<\/td>\n

\n

Buy 15.66<\/p>\n<\/td>\n

\n

Sell 15.76<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD at CIB<\/strong><\/p>\n<\/td>\n

\n

Buy 15.66<\/p>\n<\/td>\n

\n

Sell 15.76<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Interest rates CBE<\/strong><\/p>\n<\/td>\n

\n

8.25% deposit<\/p>\n<\/td>\n

\n

9.25% lending<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Tadawul<\/strong><\/p>\n<\/td>\n

\n

11,020<\/p>\n<\/td>\n

\n

+0.5% (YTD: +26.8%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

ADX<\/strong><\/p>\n<\/td>\n

\n

8,935<\/p>\n<\/td>\n

\n

-0.4% (YTD: +77.1%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

DFM<\/strong><\/p>\n<\/td>\n

\n

3,247<\/p>\n<\/td>\n

\n

+0.5% (YTD: +30.3%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

S&P 500<\/strong><\/p>\n<\/td>\n

\n

4,669<\/p>\n<\/td>\n

\n

-0.9% (YTD: +24.3%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

FTSE 100<\/strong><\/p>\n<\/td>\n

\n

7,231<\/p>\n<\/td>\n

\n

-0.8% (YTD: +11.9%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Brent crude<\/strong><\/p>\n<\/td>\n

\n

USD 71.22<\/p>\n<\/td>\n

\n

-0.1%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n

\n

USD 3.79<\/p>\n<\/td>\n

\n

-0.1%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Gold<\/strong><\/p>\n<\/td>\n

\n

USD 1,787.60<\/p>\n<\/td>\n

\n

-<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

BTC<\/strong><\/p>\n<\/td>\n

\n

USD 46,724.24<\/p>\n<\/td>\n

\n

-6.7%<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

THE CLOSING BELL-<\/strong><\/p>\n

The EGX30 fell less than 0.1% at yesterday\u2019s close<\/strong> on turnover of EGP 1.23 bn (11.7% below the 90-day average). Foreign investors were net sellers. The index is up 7.9% YTD.<\/p>\n

In the green: <\/strong>MM Group (+6.1%), Egyptians Resorts Company (+5.5%) and Fawry (+3.1%).<\/p>\n

In the red: <\/strong>GB Auto (-3.8%), AMOC (-3.2%) and Mopco (-2.4%).<\/p>\n

Asian markets are all in the red this morning \u2014 and <\/strong>CNBC<\/a><\/strong> thinks it\u2019s because investors are spooked again by the omicron variant<\/strong> after the UK reported its first omicron death and China its first confirmed case. Futures suggest major European, US and Canadian indexes will open in the green later today with the single exception of France\u2019s CAC 40.<\/p>\n","protected":false},"excerpt":{"rendered":"

Our friends at Abu Dhabi fund manager Chimera Capital have hit final close on their first venture capital fund at USD 75 mn, according to a company press release(pdf). The fund, which now counts Abu Dhabi sovereign fund Mubadala among its limited partners, handily exceeded its initial USD 65 mn target. There\u2019s no word yet […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[1326,350,104,72,119,3086,1553,3087,122,219,734,90,3088,200],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-553952","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-agthia","tag-chimera-investment","tag-economy","tag-enterpriseam","tag-financial-markets","tag-government-budgets","tag-mubadala","tag-oil-revenues","tag-planet-finance","tag-saudi-arabia","tag-sovereign-wealth-funds","tag-uae","tag-vc-funds","tag-venture-capital","wpautop","entry"],"acf":{"mongo_id":"efc90926-be47-4a5a-a57f-f429f2a02e3f","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[553935],"teaser":"","voice_url":""},"yoast_head":"\nChimera Capital reaches final close on its first VC fund - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/14\/chimera-capital-reaches-final-close-on-its-first-vc-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chimera Capital reaches final close on its first VC fund\" \/>\n<meta property=\"og:description\" content=\"Our friends at Abu Dhabi fund manager Chimera Capital have hit final close on their first venture capital fund at USD 75 mn, according to a company press release(pdf). 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The Alpha Wave Ventures II fund\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":556515,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/28\/swvl-backer-vc-firm-chimera-capital-wraps-up-second-closing-of-its-maiden-fund\/","url_meta":{"origin":553952,"position":1},"title":"Swvl backer VC firm Chimera Capital wraps up second closing of its maiden fund","author":"enterpriseam admin","date":"28 October 2021","format":false,"excerpt":"Swvl backer Chimera Capital has exceeded its USD 50 mn target with the completion of the second close of its first VC fund, according to The Capital Quest. Chimera Global Fund is now looking to target investors for a third and final close it expects to wrap up this quarter,\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":593625,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/03\/uaes-beco-closes-second-vc-fund\/","url_meta":{"origin":553952,"position":2},"title":"UAE\u2019s Beco closes second VC fund","author":"enterpriseam admin","date":"3 October 2019","format":false,"excerpt":"STARTUP WATCH- UAE\u2019s Beco closes second VC fund: Beco Capital has closed its second startup fund at USD 100 mn, exceeding its initial USD 80 mn target, the Dubai-based venture capital firm said in a press release (pdf). Among those committing capital to the fund were Rimco Investment, the International\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":555643,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/22\/venturesouq-launches-usd-50-mn-mena-fintech-fund\/","url_meta":{"origin":553952,"position":3},"title":"VentureSouq launches USD 50 mn MENA fintech fund","author":"enterpriseam admin","date":"22 November 2021","format":false,"excerpt":"Dubai-headquartered Venture capital firm VentureSouq has formally launched a USD 50 mn fintech fund that has already made several investments in Egyptian startups this year, it said in a statement (pdf). The MENA Fintech Fund I has deployed capital in Egyptian digital trucking platform Trella, which this year closed a\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/546.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":553486,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/06\/the-uaes-chimera-just-bought-a-stake-in-gemini-plus-b-investments-acquires-take-in-egyptian-ivf-center\/","url_meta":{"origin":553952,"position":4},"title":"The UAE\u2019s Chimera just bought a stake in Gemini. Plus: B Investments acquires take in Egyptian IVF Center","author":"enterpriseam admin","date":"6 December 2021","format":false,"excerpt":"The UAE\u2019s Chimera bought 25% of Sawiris\u2019 Gemini Global Development in a USD 100 mn transaction? Abu Dhabi-based investment firm Chimera Investment completed an acquisition of a 25% stake in Sawiris family-owned\u00a0 firm Gemini Global Development Egypt, multiple sources with first-hand knowledge of the transaction confirmed to Enterprise. Look for\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/231.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":575367,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/13\/plus-venture-capital-to-invest-usd-60-mn-in-120-mena-tech-startups-with-new-fund\/","url_meta":{"origin":553952,"position":5},"title":"Plus Venture Capital to invest USD 60 mn in 120 MENA tech startups with new fund","author":"enterpriseam admin","date":"13 October 2020","format":false,"excerpt":"STARTUP WATCH- Plus Venture Capital looks to invest USD 60 mn in 120 MENA tech startups with new fund: Plus Venture Capital, a new VC firm set up by former 500 Falcons managing partners Sharif El Badawi and Hasan Haider, will invest USD 60 mn in 120 early-stage startups across\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/553952","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=553952"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/553952\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/553935"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=553952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=553952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=553952"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=553952"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=553952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}