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Mubadala to launch $400m European fund

The Gulf Today | June 14, 2018
 The Islamic Chamber of Commerce , Industry and Agriculture (ICCIA)

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 founder-led, high growth technology companies with global scale and impact.

The announcement was made during London Tech Week, a week-long 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.