Falcon Edge Capital, the New York-headquartered investment firm, has closed the first tranche of its new $10 billion fund and is rebranding as Alpha Wave Global, a source familiar with the matter said.
Once the new fund — which is called Alpha Wave Ventures II — has completely closed, Alpha Wave Global’s AUM will exceed $15 billion, the source said. The firm, which began its life as a public market investor, plans to use the fresh funds to back startups globally, the source said, requesting anonymity as the details are private.
A single fund of $10 billion would be among the largest of its size globally.
TechCrunch reported last week that Falcon Edge was in talks to raise a new fund of $10 billion or more. The firm expects to raise slightly more than $10 billion for the new fund, the source said.
Alpha Wave Global declined to comment.
This is a developing story. More to follow…
Once the new fund — which is called Alpha Wave Ventures II — has completely closed, Alpha Wave Global’s AUM will exceed $15 billion, the source said. The firm, which began its life as a public market investor, plans to use the fresh funds to back startups globally, the source said, requesting anonymity as the details are private.
A single fund of $10 billion would be among the largest of its size globally.
TechCrunch reported last week that Falcon Edge was in talks to raise a new fund of $10 billion or more. The firm expects to raise slightly more than $10 billion for the new fund, the source said.
Alpha Wave Global declined to comment.
This is a developing story. More to follow…