Abu Dhabi's Mubadala Ventures focuses investments in US tech startups | ZAWYA MENA Edition:
Mubadala Investment Company is investing millions of dollars in many companies in US and worldwide, according to UAE daily The National, which cited a top executive at the Abu Dhabi–owned state fund.
“Mubadala has taken a view that technology is going to become core to a lot of industries around us, and based on that view, it wants to become one of the largest global investors in technology,” Abdulla Al Banna, Director of Mubadala Ventures, the venture capital arm of Mubadala, was quoted as saying.
According to The National, Mubadala Ventures, is using capital from three existing funds, including a $400-million (1.4 billion dirhams) direct fund and a $200-million “fund of funds” programme. It has also made a $15 billion commitment to SoftBank’s Vision Fund, a fund focused on technology and innovation.
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