APPLETON, Wis.,
Aug. 8,
2024 /PRNewswire/ -- Global Alternative
Investment Management LLC ("Global Alts") is pleased to announce
the successful close of its latest venture capital fund, Global
Alts SPV LLC-Groq AI (the "Fund) targeting a strategic investment
in Groq, a pioneering AI technology company developing chips
to run generative AI models faster than conventional
processors.
The Fund's investment in Groq was acquired indirectly through a
private investment vehicle participating in Groq's recent
$640M Series D round at a valuation
of $2.8B. Groq's round was led by
funds and accounts managed by BlackRock Private Equity Partners
with participation from both existing and new investors including
Neuberger Berman, Type One Ventures, and strategic investors
including Cisco Investments, Global Brain's KDDI Open Innovation
Fund III, and Samsung Catalyst Fund.
About Groq
Groq builds fast AI inference technology. Groq® LPU™ AI
inference technology is a hardware and software platform that
delivers exceptional AI compute speed, quality, and energy
efficiency. Groq, headquartered in Silicon Valley, provides cloud
and on-prem solutions at scale for AI applications. The LPU and
related systems are designed and manufactured in North America. The unique, vertically
integrated Groq AI inference platform has generated skyrocketing
demand from developers seeking exceptional speed.
About Global Alternative Investment Management
Global Alts seeks to provide its clients with opportunistic
alternative investments on a global scale. With more companies
staying private for longer, Global Alts targets unique investment
opportunities into transformative, disruptive businesses through
direct investments, secondary market purchases, and co-investments.
Since spinning out from its RIA affiliate in 2021, Global Alts has
launched six funds, targeting late-stage global technology venture
capital, financial technology, and single-purpose funds targeting
Indian-based companies. The founding partners of Global Alts have a
25+ year history of sourcing alternative investment
opportunities. Using our innovative approach, the Global Alts
team excels in creating bespoke one-investor funds tailored
specifically for high-net-worth families, foundations and
endowments ensuring personalized and strategic investment
solutions.
Press & Investment Inquiries
Prateek Mehrotra, MBA, CFA, CAIA
Chief Investment Officer
381531@email4pr.com
920.785.6010
The press release is for Informational purposes only and does
not constitute an offer or solicitation to sell shares or
securities in any investment or company. Interests in any
alternative investment vehicle are offered only pursuant to the
terms of a confidential private placement memorandum (the
"Memorandum"), which is furnished only to accredited and/or
qualified investors on a confidential basis for their consideration
in connection with the private offering. All investments involve
risk and potential loss of capital and, unless otherwise stated,
are not insured or guaranteed. For additional information on the
risks of alternative investments, please visit our
website.
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SOURCE Global Alternative Investment Management LLC