Global Alternative Investment Management LLC Announces Successful Close of Venture Capital Fund Targeting Strategic Investment in Groq

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Global Alternative Investment Management LLC

Aug 08, 2024, 13:10 ET

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
[email protected]
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.

SOURCE Global Alternative Investment Management LLC