Falcon Edge Rebrands as Alpha Wave Global, Launches $10B Fund

Alpha Wave Global Secures Initial Funding and Rebrands

Falcon Edge Capital, an investment firm based in New York, has finalized the initial closing of its new $10 billion fund. Concurrently, the firm is undergoing a rebranding to become Alpha Wave Global, according to a source with direct knowledge of the situation.

Fund Size and AUM

Upon complete closure, the Alpha Wave Ventures II fund is projected to bring Alpha Wave Global’s total assets under management (AUM) to over $15 billion. The source requested anonymity due to the confidential nature of the details.

A $10 billion fund represents a substantial size on a global scale.

Fundraising and Investment Strategy

Reports last week indicated that Falcon Edge was in discussions to secure a new fund exceeding $10 billion. The firm anticipates raising slightly more than this amount for the new venture.

Alpha Wave Global did not provide a comment regarding these developments.

Growth and Global Investments

Established in 2012 by Rick Gerson, Navroz D. Udwadia, and Ryan Khoury, Alpha Wave Global has rapidly become a prominent and active investor worldwide this year.

The firm has demonstrated significant activity in key markets, notably the U.S. and India – the second-largest internet market globally. Approximately $2 billion has been deployed in India alone, resulting in the creation of at least five unicorn companies, including CRED (fintech) and Mensa (direct-to-consumer brands).

Currently, Alpha Wave Global is nearing completion of a co-leading investment in DealShare, a social commerce platform, which would value the Indian company at over $1.7 billion.

Investment Approach

As a “grandcub” of Tiger Global, Alpha Wave Global has adopted many of its predecessor’s investment strategies. Like Tiger Global, the firm is known for its swift and assertive investment decisions.

Instead of evaluating startups on a case-by-case basis, Alpha Wave Global comprehensively maps entire market sectors to determine overall category potential, as stated by Udwadia during a virtual conference earlier this year.

The firm tends to increase investment activity when market conditions are uncertain and reduces its pace during periods of widespread investment enthusiasm.

Investment Volume and Stage Focus

According to CB Insights, Alpha Wave Global has completed over 40 private market investments this year, surpassing its total from the previous four years combined.

Traditionally, the firm has concentrated on growth-stage startups, with investments ranging from $50 million to $150 million. However, through its Alpha Wave Incubation fund, it has recently increased its focus on seed and Series A funding rounds, aggressively backing early-stage ventures.