ALPHA WAVE GLOBAL, LLP

Risk Rating: MEDIUM
The company is compliant with filing obligations and shows no immediate statutory red flags, but the absence of financial data in the provided information and the presence of contradictory PSC voting rights warrant a cautious assessment. Solvency and liquidity cannot be confirmed without access to the filed accounts.

Key Concerns
1. Lack of Financial Data – No balance sheet, profit & loss, or cash flow figures are available in the supplied data. Without these, solvency and liquidity cannot be evaluated, leaving a critical gap in risk assessment.
2. Contradictory PSC Voting Rights – Two corporate entities (Falcon Edge Investments Limited and Alpha Wave Investments Limited) are each recorded as holding “more than 75% of the voting rights.” This is logically inconsistent and may indicate an error in the PSC register or an opaque control structure that needs clarification.
3. Complex Governance Structure – The LLP has three designated members (two individuals and one corporate entity) and five individuals recorded as having significant influence or control. This layered ownership can obscure ultimate beneficial ownership and increase governance risk, particularly if the corporate member itself is not transparent.

Positive Indicators
- Up-to-Date Filings – Both the annual accounts (last made up 31 Dec 2025) and the confirmation statement (last made up 12 Aug 2026) are current with no overdue returns, demonstrating basic regulatory compliance.
- Longevity – The LLP has been active since 2011, suggesting operational continuity and experience in its sector.
- No Formal Insolvency Proceedings – The company is not in liquidation, administration, or receivership, and its status remains “Active.”

Due Diligence Notes
- Obtain the latest filed annual accounts (and, if possible, management accounts) to assess turnover, net current assets, debt levels, and cash flow.
- Request clarification from the company regarding the PSC entries for Falcon Edge Investments Limited and Alpha Wave Investments Limited—specifically, how each can hold >75% of voting rights, and whether they are related entities.
- Investigate the ultimate beneficial ownership of the corporate member (Alpha Wave Investments Limited) and the individuals listed as PSCs.
- Confirm the company’s principal business activity (SIC code is not provided) and assess industry-specific risks.
- Review the reason for the name change in 2021 from “FALCON EDGE CAPITAL, LLP” to “ALPHA WAVE GLOBAL, LLP”—rebranding or restructuring may signal a change in strategy or ownership.
- Check director conduct records for the named individuals and any connected entities, though none are flagged in the current data.