Falcon Edge raises $300 million India dedicated fund

BENGALURU: US investment firm Falcon Edge Capital has raised a $300 million India-focused fund, Alpha Wave Incubation (AWI) anchored by an undisclosed entity of the Government of Abu Dhabi and investors from the UAE, according to three people familiar with the matter. Through the fund lifecycle, it will invest in 60-80 early-stage technology focussed angel, seed, and Series A deals in India and Southeast Asia, people quoted above said.

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. “The core focus of the fund is to back startups with capabilities in artificial intelligence and machine learning,” another source said. AWI is going to build a dedicated team to run this fund, which will invest upto $5 million in startups.