Mubadala plans European technology fund

13 June 2018
Abu Dhabi investment vehicle will implement a fund of funds and direct fund strategy

Abu Dhabi’s Mubadala Investment Company (Mubadala) says it plans to create a $400m fund to invest in leading European technology companies.

The fund will be managed by the company's venture capital arm Mubadala Ventures. Japan’s Softbank Group will participate as a strategic investor in the fund through its SIMI US Holdings I, Inc. investment subsidiary.

The fund will target founder-led, high-growth technology companies with global scale and impact.

It will work closely with early-stage UK and other European funds.

Mubadala Ventures will also expand its fund of funds programme to invest in established and emerging fund managers across Europe.

The fund of funds and direct fund strategy will allow Mubadala Ventures to help European tech companies establish operations in Abu Dhabi to serve the Gulf and Middle East markets.

Mubadala Ventures also oversees and manages Mubadala’s $15bn commitment to the Softbank Vision Fund, Mubadala Ventures Fund 1 – a US-focused early stage venture fund – and a fund of funds programme.

Mubadala has been an active investor in technology for over a decade. In 2007, it acquired a significant stake in Advanced Micro Devices (AMD), and also owns: semiconductor manufacturer Globalfoundries; Al-Yah Satellite Company (Yahsat); Cognit, a joint venture with IBM; cloud computing provider Injazat Data Systems; and Khazna, a data centre company in the UAE.

Mubadala also has a significant stake in Emirates Integrated Telecommunications Company (Du).

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