Mubadala unveils $400m European tech fund plans

The Abu Dhabi state-backed investment company revealed its intentions during London Tech Week.

Mubadala, Abu Dhabi’s state-run investment organisation, yesterday announced plans to launch a $400m fund targeting European technology businesses.

The fund is to be run by Mubadala Ventures, the agency’s venture capital arm, and Japan’s SoftBank Group will participate as a strategic investor through its SIMI US Holdings subsidiary. It will invest directly into high-growth companies as well as with early stage UK- and Europe-based funds.

Mubadala’s deputy group CEO Waleed Al Mokarrab Al Muhairi unveiled his organisation’s plans during London Tech Week, an event showcasing investment opportunities in the UK.

Al Muhairi said: “We believe the UK is a very strong market for future technology innovation and entrepreneurship. Tech Week reinforces both its existing technology base and the call for new investors in the UK.”

He added: “Mubadala’s investment approach is based on partnership and this is exemplified through the strong working relationship we have established with the SoftBank Group. The launch of a $400 million fund to support the growth of pioneering entrepreneurs complements Mubadala’s global portfolio of investments across the full spectrum of the tech sector.”

Meanwhile, SoftBank director Ron Fisher said that his company had worked closely with the Mubadala team for several years – Mubadala has a commitment to the SoftBank Vision Fund worth $15bn – and added: “We are impressed with their investment capabilities, collaborative approach and understanding of emerging technologies.

"The UK and Europe has some of the world’s most exciting startups and we would like to see more companies accelerate through the startup stage to achieve sustained growth at a global level.”

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