Wafra, an alternative investment manager, has made a strategic investment in Niobrara Capital, a new technology-focused private equity firm, a joint news release said.
The investment was made by Capital Constellation, the consortium of institutional asset owners investing in emerging private equity and alternative investment firms. Wafra, which is owned by Kuwait's $145 billion Public Institution for Social Security, Kuwait City, is the investment manager for the consortium.
Niobrara was launched in June by Chip Schorr, a senior managing director of private equity firm One Equity Partners, with R. Todd Bradley, a former One Equity Partners operating partner, and Mike Pompeo, former U.S. secretary of state during the first Trump administration.
Niobrara’s first investment, made in May 2024, was a majority equity stake in Polar Semiconductor, a Minnesota-based semiconductor manufacturer, that later became the first award recipient under the U.S. CHIPS Incentives Program's Funding Opportunity for Commercial Fabrication Facilities, which was passed during the Biden administration.
"Under the guidance and expertise of Chip, Todd and Mike, Niobrara is well positioned to become the next leader in private equity technology investing,” said Adel Alderbas, Wafra’s chief investment officer and president of Capital Constellation, in the news release.