Alpha Wave Global

Alpha Wave Global was founded in 2012 by Rick Gerson, Navroz D. Udwadia, and Ryan Khoury, with Gerson serving as chairman and CEO. Gerson had previously been a founding member of the investment firm Blue Ridge Capital, established in 1996, where he spent 15 years; Udwadia was an investment professional on Eton Park’s emerging markets team in London from 2005 to 2011; and Khoury worked at Eton Park in London on special situations and distressed credit investments in Western Europe and EEMEA.⁠[1][2][3][4][5]

In November 2021, the AI compute company Cerebras Systems completed a $250 million Series F round at a valuation of over $4 billion, led by Alpha Wave Ventures. Alpha Wave Ventures was a global growth-stage partnership of Falcon Edge and Chimera, and Rick Gerson was at the time co-founder and chairman of Falcon Edge Capital and Alpha Wave.⁠[6][6][6][6][6]

In August 2024, HistoSonics, maker of histotripsy treatment systems, completed a $102 million Series D round led by Alpha Wave Ventures. In April 2025, the metabolic health biosensor company Biolinq completed a $100 million Series C round, also led by Alpha Wave Ventures.⁠[7][8][8]

In September 2025, Cerebras completed a $1.1 billion Series G round at an $8.1 billion post-money valuation, with Alpha Wave Global participating as an existing investor. In November that year, the corporate fintech company Ramp reached a $32 billion valuation following a $300 million financing round and an employee tender offer, with Alpha Wave Global among its new investors.⁠[9][9][9][10][10]

On February 3, 2026, Cerebras announced a $1 billion Series H round at a post-money valuation of about $23 billion, with Alpha Wave Global participating; on February 12, Anthropic announced a $30 billion Series G round at a $380 billion post-money valuation, listing Alpha Wave Global among its significant investors.⁠[11][11][12][12][12]

On March 30, 2026, the Indian telecom operator Bharti Airtel announced that Alpha Wave Global, Carlyle, and Anchorage Capital would invest $1 billion through affiliates in its data center subsidiary Nxtra Data, with Alpha Wave Global investing $435 million, Carlyle $240 million, and Anchorage Capital $35 million, and the rest coming from Airtel; Nxtra would be valued at about $3.1 billion after the transaction, with Airtel retaining a controlling stake. Rick Gerson said Alpha Wave had a particular focus on identifying and backing AI-first businesses, including Anthropic, OpenAI, Cerebras, SpaceX, X.ai, Ramp, Cognition, and Long Lake ManagementLong Lake (Holding Company)Long Lake is a holding company that acquires services businesses and uses artificial intelligence to transform their operations. In September 2026 it completed its acquisition of the corporate travel platform American Express Global Business Travel for about $6.3 billion.Open the full entry; Udwadia said India’s data center capacity was set to grow meaningfully to meet hyperscaler and large language model demand.⁠[13][13][13][13][13][13][13]

On May 4, 2026, the holding company Long Lake announced that, with support from General Catalyst and Alpha Wave, it would acquire the corporate travel platform American Express Global Business Travel for about $6.3 billion; Alpha Wave is one of Long Lake’s investors. On May 27, the AI software company Cognition raised over $1 billion at a $26 billion valuation, with existing investor Alpha Wave participating; on June 4, Ramp raised $750 million at a $44 billion valuation, with Alpha Wave Global participating as a previous investor.⁠[14][14][15][15][16][16][16]

As of October 2026, Alpha Wave Global’s website divides its business into three verticals, private equity, private credit, and insurance and retirement solutions, and lists about $29 billion in assets under management and 11 offices in eight countries: Miami, New York, London, Monaco, Madrid, Abu Dhabi, Tel Aviv, Bangalore, Mumbai, New Delhi, and Sydney. Company descriptions from March and May 2026 instead list four main verticals, adding a public markets strategy.⁠[1][2][13][14]

The private equity vertical aims to invest in the “power law” companies defining the AI era, and the website’s growth equity portfolio lists 161 companies across sectors including AI and compute, consumer, crypto, energy, enterprise, fintech, life sciences, and space and defense, in regions including the United States and Europe, India, Asia, and the Middle East and North Africa. The private credit vertical provides senior secured loans to companies in the United States, Europe, and Australia, with the United States as its largest market and a dedicated team in Sydney. In insurance and retirement, its Alpha National is an AI-enabled life and annuity carrier.⁠[1][17][17][18][18][18][19]

As of October 2026, in addition to the three co-founders, Alpha Wave’s leadership includes partner Ravi Thakran, former group chairman of LVMH Asia; president Francis Suarez; and co-chief operating officers Matthew Corey and Cathy Weist. Suarez served as mayor of Miami from 2018 to 2025. Gerson also sits on the boards of companies including Aman Group and Beast Industries, and serves on the boards of 2PointZero, an Abu Dhabi-listed investment holding company, and Abu Dhabi Catalyst Partners, a joint venture between MubadalaMubadala Investment CompanyMubadala Investment Company (Mubadala) is a sovereign investor wholly owned by the Government of Abu Dhabi. It was formed in 2017 by the merger of the International Petroleum Investment Company (IPIC), founded in 1984, and Mubadala Development Company, founded in 2002, and absorbed the Abu Dhabi Investment Council the following year; as of the end of 2025 it managed about AED 1.4 trillion (US$385 billion) in assets, with business in more than 80 countries.Open the full entry and Alpha Wave.⁠[2][20][3][3][3][3]

Alpha Wave Global: Official website: https://www.alphawaveglobal.com/ (opens in a new window).⁠[13]