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Digital Alpha raises more than $1 billion for infrastructure fund Digital Alpha Advisors closed its second digital infrastructure fund at more than $1 billion. Digital Alpha Fund II exceeded its initial hard cap, a news release said. A person familiar with the fund said the target was $750 million and the initial hard cap was $1 billion. The fund, $300 million of which has already been committed across three deals, invests in digital infrastructure assets, companies and revenue-share agreements the same strategy as its Digital Alpha Fund I. Details on the first fund s closing amount were not available. Investments focus on three key areas: next-generation networks, such as 5G infrastructure investments and Wi-Fi 6 solutions across the globe; cloud computing; and internet of things-enabled smart city solutions. Executives are looking to build a diverse portfolio of about 12 anti-fragile investments, which have resilient business models. ....