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FINANCIAL NEWS
Abu Dhabi-Mubadala aims to invest up to USD15bn in SoftBank fund
15 May 2017
(MENAFN) Abu Dhabi’s Mubadala Investment Co. aims to invest more than USD15bn in SoftBank Group Corp. Vision Fund and start 2 new venture capital funds to build its tech holdings.
Meanwhile, the SoftBank fund will be covered in two or three weeks with almost USD95bn of commitment, while Mubadala aims to make its investment over the coming five years.
Moreover, sovereign wealth funds in Gulf Arab states are aiming chances in new areas, like tech, to lessen their reliance on volatile oil markets.
The firm aims to start two tech venture capital funds next month in order to invest in firms with annual revenue of between USD1mn and USD10mn.
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MENAFN1505201700450000ID1095479548
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