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

PayPal buys Happy Returns to strengthen reverse logistics system
PayPal buys Happy Returns to strengthen reverse logistics system
By Mateen Dalal

U.S. based digital payments platform, PayPal, an online payment system entity has announced the purchase of Happy Returns- a returns solution firm that provides online buyers access to simplified ways to return unwanted merchandise to retailers; elim...

YOP officially unveils YOP app to ease access to DeFi for the masses
YOP officially unveils YOP app to ease access to DeFi for the masses
By Mateen Dalal

Yield Optimization Platform and Protocol (YOP) recently declared its official launch of YOP application; the first all-in-one mobile app which makes it quite easier for everyone to access DeFi. The V0 version of the app is now available for early acc...

Singapore to create second national supercomputer with more on roadmap
Singapore to create second national supercomputer with more on roadmap
By Mateen Dalal

Following its success of the first supercomputer system, Singapore is set to build its upcoming second supercomputer system in an attempt to strengthen the local research community, offering 8X more computing capacity than its previous model. The sy...