Aberon Funding Group intends to carry 10 funding firms to the Emirates subsequent yr
Aberon Funding Group, the non-public funding agency of billionaire investor Christian Angermayer, is on the lookout for new funding targets within the UAE and plans to maneuver as much as 10 portfolio firms to the UAE subsequent yr in an effort to increase its presence within the area.
Angermayer stated the 5 to 10 firms that may have a “robust presence” within the Arab world’s second-largest economic system will embrace a number of biotechnology firms. the Nationwide On the sidelines of Abu Dhabi Finance Week.
“We’ve got to maneuver a lot of our biotech firms right here. Not solely will we arrange an workplace right here, we’ll conduct medical research, which will probably be groundbreaking as a result of we’re, to my information, the primary or one of many first to try this,” he stated.
He added that Abu Dhabi is strongly centered on creating the biotechnology trade and desires “specialised folks” within the “extremely smart sectors” it goals to develop.
“We’re very impressed that Abu Dhabi has such a tremendous healthcare infrastructure from early stage universities to hospitals, permitting our biotech firms to conduct medical analysis and drug growth approval research right here on the bottom,” stated Mr. Angermayer.
Apeiron, whose biotech portfolio consists of Atai Life Sciences, Mubadala Funding Firm-backed Rejuveron and Cambrian Bio, has $500 million of investable money at its disposal and will additionally discover the choice of launching psychological well being clinics within the nation.
“So we’re companies like those we now have (already) invested in and are interested by beginning right here,” he stated. “As a result of we’re such large traders in psychological well being and biotech… perhaps we might begin psychological well being clinics right here.”
The choice to launch its personal ventures within the UAE or spend money on current companies stays open throughout its core areas akin to life sciences, fintech, crypto expertise, future expertise in addition to the hospitality and leisure industries.
Final week, Apeiron introduced its new regional headquarters within the Abu Dhabi World Market, one of many quickest rising worldwide monetary facilities within the Center East.
The corporate stated that the corporate’s operations within the Center East and North Africa will probably be managed by its new regional director, Salvatore Lavallo, who joined the funding firm from the Abu Dhabi Funding Workplace, the place he held the place of head of attracting overseas direct funding.
Apeiron is already an lively investor within the UAE. Its US enterprise capital fund Presight Capital has invested within the seed spherical of company spend administration platform Alan.
The corporate can be an investor in Abu Dhabi-based utilized synthetic intelligence firm, often known as AAICO.
Angermayer stated it’s troublesome to foretell what number of extra offers Apeiron will be capable of shut within the subsequent yr or two within the UAE, as there aren’t any particular targets and funding choices will probably be decided by the variety of potential investments it may possibly establish.
“We’re right here now,” he stated. “If we discover the fitting firms, there is perhaps 10 of them.”
Apron’s growth into the United Arab Emirates is a part of the corporate’s broader plans to increase its funding portfolio over the following 5 years.
The corporate presently has $2.5 billion in property beneath administration, half of which is funds it manages on behalf of exterior traders. Apeiron plans to alter the division and considerably improve its exterior capital beneath administration.
“Proper now, the exterior funds are about $1.25 billion, and we need to develop there… (and) my inner objective is $5 billion in 5 years,” he stated.
The corporate may even look to boost capital for the funds it manages in addition to the portfolio firms it can carry to the UAE to assist them develop and make a long-term financial influence within the nation.
Angermayer stays optimistic concerning the prospects for cryptocurrencies regardless of current disasters which have rocked markets and raised questions concerning the viability of cryptocurrencies as an asset class.
“It is good to eliminate the dangerous actors (however) it could have been higher if there have been no dangerous actors within the first place,” he stated.
Though the autumn of FTX and Binance’s current regulatory points have introduced lots of adverse consideration to the trade, its fundamentals stay robust and Bitcoin continues to strengthen regardless of volatility, Angermayer stated.
“Sure, cryptocurrencies have had a yr or 18 months the place there have been many disasters, for instance,” he stated.
“However it occurred in different industries too. You had Enron (failed) and we didn’t say vitality buying and selling was dangerous. We had Lehman Brothers and also you don’t say banking is dangerous.”
Up to date: November 29, 2023 at 7:19 am