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FINANCIAL NEWS
Saudi tech fund-Softbank raises USD93bn to invest in tech sectors
21 May 2017
(MENAFN) Japan’s Softbank Group and Saudi Arabia’s major sovereign wealth fund proclaimed that it had raised more than USD93bn to invest in tech sectors like artificial intelligence and robotics.
Meanwhile, the new fund’s investors involve Abu Dhabi’s Mubadala Investment, which has committed USD15bn, Apple Inc., Qualcomm, Taiwan”s Foxconn and Sharp Corp.
Accordingly, the new fund would seek to purchase minority and majority interests in both private and public firms, from emerging businesses to established, multi-billion-dollar firms.
In addition, it also aims for USD100bn or more of committed capital and predicts to finish its money-raising in six months.
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MENAFN2105201700450000ID1095494820
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