Abu Dhabi-based Mubadala Investment Company will collaborate with Japan’s SoftBank to launch a $400 million fund to invest in European technology companies.
“UK is a very strong market for future technology innovation and entrepreneurship. The launch of a $400m fund to support the growth of pioneering entrepreneurs complements Mubadala’s global portfolio of investments across the full spectrum of the tech sector,” said Waleed Al Muhairi, deputy group chief executive and chief executive of alternative investments and infrastructure at Mubadala, said
Company sources say Mubadala’s newly set up tech fund will work closely with “early stage UK and other European funds”.
Mubadala’s venture capital arm will expand its “fund of funds programme” to invest in both established and emerging asset managers across Europe.
The investment plans were announced during London Tech Week, a week-long festival focused on new investment opportunities in the UK.