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Alternative Assets  + VC  |  August 27, 2024
Global Alts Closes Venture Capital Fund Targeting Groq Investment
Joe Palmisano
By: Joe Palmisano

Global Alts Closes Venture Capital Fund Targeting Groq Investment

Global Alternative Investment Management LLC (Global Alts) closed its latest venture capital fund, Global Alts SPV LLC-Groq A, as it marks a significant investment in Groq, an artificial intelligence-innovator which specializes in producing high-speed generative AI chips.

The fund was made through a private vehicle that participated in Groq’s recent $640 million Series D funding round, which valued the company at $2.8 billion.

The round was led by BlackRock Private Equity Partners, with additional backing from prominent investors such as Neuberger Berman, Type One Ventures, and strategic participants including Cisco Investments, Global Brain’s KDDI Open Innovation Fund III, and Samsung Catalyst Fund.

Groq is a Silicon Valley-based company specializing in cutting-edge AI inference technology, which delivers unparalleled speed and energy efficiency in AI computing. The firm’s vertically integrated platform has seen rapid adoption among developers seeking high-performance AI solutions.

This latest move continues Global Alts’ strategy of targeting unique investment opportunities in transformative and disruptive businesses, expanding its portfolio in late-stage global technology and financial technology ventures.

Since spinning out from its RIA affiliate in 2021, Global Alts has launched six funds, focusing on bespoke investment solutions for high-net-worth families, foundations, and endowments.

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Global Alternative Investment Management LLC

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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