Mubadala to launch $400m Euro­pean fund

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

The Gulf Today - Business - - FRONT PAGE -

LON­DON: Mubadala In­vest­ment Com­pany (Mubadala) of Abu Dhabi, on Wed­nes­day an­nounced its in­tent to cre­ate a $400 mil­lion fund to in­vest in lead­ing Euro­pean tech­nol­ogy com­pa­nies.the fund will be man­aged by Mubadala Ven­tures, the ven­ture cap­i­tal arm of Mubadala.

Softbank Group will par­tic­i­pate as a strate­gic in­vestor via its SIMI US Hold­ings I, Inc. in­vest­ment sub­sidiary. The fund will tar­get founderled, high growth tech­nol­ogy com­pa­nies with global scale and im­pact.

The an­nounce­ment was made dur­ing Lon­don Tech Week, a week­long fes­ti­val of tech­nol­ogy and in­no­va­tion fo­cused on cre­at­ing new in­no­va­tive in­vest­ment op­por­tu­ni­ties in the UK. The fund will work closely with early-stage UK and other Euro­pean funds. As part of its Euro­pean strat­egy, Mubadala Ven­tures will ex­pand its fund of funds pro­gramme and in­vest in both es­tab­lished and emerg­ing fund man­agers across the con­ti­nent.

Through the Euro­pean fund of funds and di­rect fund strat­egy, Mubadala Ven­tures will also fa­cil­i­tate the process for Euro­pean tech com­pa­nies to es­tab­lish op­er­a­tions in Abu Dhabi to tar­get the Gulf and Mid­dle East mar­kets.

Waleed Al Mokarrab Al Muhairi, Deputy Group CEO and CEO of Al­ter­na­tive In­vest­ments & In­fra­struc­ture at Mubadala, said: “We be­lieve the UK is a very strong mar­ket for fu­ture tech­nol­ogy in­no­va­tion and en­trepreneur­ship. Tech Week re­in­forces both its ex­ist­ing tech­nol­ogy base and the call for new in­vestors in the UK.

Mubadala’s in­vest­ment ap­proach is based on part­ner­ship and this is ex­em­pli­fied through the strong work­ing re­la­tion­ship we have es­tab­lished with the Softbank Group. The launch of a $400 mil­lion fund to sup­port the growth of pi­o­neer­ing en­trepreneurs com­ple­ments Mubadala’s global port­fo­lio of in­vest­ments across the full spec­trum of the tech sec­tor.”

Ibrahim Ajami, Head of Mubada Ven­tures, added: “We see strong po­ten­tial in the Euro­pean tech ecosys­tem with an ar­ray of dy­namic, founder-led com­pa­nies seek­ing fund­ing and sup­port from a com­mit­ted part­ner. Mubadala has the global net­work of large as­sets and re­la­tion­ships and a part­ner mind­set to ac­cel­er­ate the de­vel­op­ment of Europe’s high-growth tech com­pa­nies.

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