SoftBank invests in a new USD 400m European tech fund of Mubadala
Category: #business  By Mateen Dalal  Date: 2019-02-18
  • share
  • Twitter
  • Facebook
  • LinkedIn

SoftBank invests in a new USD 400m European tech fund of Mubadala

Mubadala would use the fund to invest between USD 5 million and USD 30 million in European technology startups

Japans conglomerate SoftBank Group has reportedly announced to have invested nearly half the amount for the recently launched USD 400 million technology fund by United Arab Emirates state-owned Mubadala Investment Company. As per trusted sources, the technology fund was unveiled last year by Mubadala Investment Company with an objective to back European startups.

Reportedly, the European venture fund would be operated from a new office in London. People with knowledge of the matter claim that the technology fund has already made a few undisclosed investments. A big investor in SoftBank’s Vision Fund, Mubadala Investment Company would utilize the fund to invest between USD 5 million and USD 30 million in European startups.

The launch of the European tech fund was made by Mubadala at London Tech Week last year. It was stated that Mubadala Ventures, the venture capital arm of Mubadala Investment Company, would manage the tech fund. Reportedly, Mubadala Ventures would also facilitate the process for European tech firms to build operations in Abu Dhabi to target the Middle East and Gulf markets.

Since its inception, SoftBank Group has participated as a strategic investor in the tech fund through its investment subsidiary, SIMI US Holdings I, Inc. The venture firm had released a statement during the launch which had noted that the fund would work closely with early-stage UK and other European funds. The firm would enlarge its fund of funds program as part of its European strategy and would invest in both emerging and established fund managers throughout the continent.

According to a report published by Channel NewsAsia, Mubadala was not immediately reachable for comment, while SoftBank did not respond to a request seeking comment.

  • share
  • Twitter
  • Facebook
  • LinkedIn


About Author

Mateen Dalal    

Mateen Dalal

Mateen has completed his Bachelor’s degree in electronics and telecommunication engineering, post which he lent his proficiency to the industry, working as a quality and test engineer. Drawn intricately toward the field of content creation however, Mateen soon switc...

Read More

More News By Mateen Dalal

Telenor to sell stake in Myanmar's Wave Money for $53 Mn to Yoma
Telenor to sell stake in Myanmar's Wave Money for $53 Mn to Yoma
By Mateen Dalal

Telenor Group, an international provider of tele, data and media communication services, has reportedly agreed to sell its 51% stake in Myanmar's Wave Money, a provider of digital payment service, for $53 million to Yoma MFS Holdings, a subsidiar...

Alkem to launch state-of-the-art technology to treat DFU in India
Alkem to launch state-of-the-art technology to treat DFU in India
By Mateen Dalal

Alkem Laboratories Ltd. (Alkem), an Indian multinational pharmaceutical company, has reportedly launched a unique patented technology for the treatment of Diabetic Foot Ulcer (DFU) in India. The solution would be based on an innovative technology of...

Bank of America unveils new drive-thru ATM; shuts another in Bethlehem
Bank of America unveils new drive-thru ATM; shuts another in Bethlehem
By Mateen Dalal

According to Andy Aldridge, Bank of America Spokesperson, the financial institutiThe Bank of America Corporation, an American multinational investment bank and financial services, has now opened up a new place for clients in North Bethlehem who are l...