Hedonova raises $18.4m from UAE Chemie-Tech DMCC in a Series A1 funding round
The fund valued at $330m is expected to diversify the fund’s equipment finance portfolio
Hedonova, a leading investment fund specializing in alternative investments, recently announced the successful closure of its latest funding round, securing $18.4 million at a post-money valuation of $330 million. The round was led by UAE-based firm Chemie Tech, with participation from key employees and four of Hedonova’s clients, demonstrating the trust and confidence in the fund.
With a seed round of $17 million raised in 2020 and strong operational revenue, the fund plans to utilize the new capital for strategic initiatives. This includes hiring top talent, expanding market share, and investing in portfolio companies during upcoming global economy-wise challenging times, to ensure their growth and success. The additional funding will enable Hedonova to bolster its cash reserves and seize opportunities in the market.
“We are thrilled to have the support of Chemie Tech and our esteemed clients, as we unlock this exciting milestone. This funding round is momentous for all of us here at Hedonova as it reflects positively on the immense potential and value we offer as an investment fund. With this series A1 funding and the necessary cash reserves, we can navigate market uncertainties and capitalize on opportunities. Additionally, our keen focus on equipment financing will provide low-volatility cash yields and uncorrelated returns, offering a reliable investment option and exceptional returns for our investors” said Alexander Cavendish Co-Founder & CEO, Hedonova.
As part of its growth strategy, Hedonova aims to break away from the dominant medical equipment options in its equipment portfolio and diversify into the thriving oil and gas sector. The funding paves the way for a valuable partnership with Chemie Tech, offering Hedonova a strategic platform to expand into this market and tap into new opportunities. With the successful completion of this funding round, Hedonova remains dedicated to providing attractive returns to its investors and continuing its mission of delivering uncorrelated investment options in a rapidly evolving market.
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