Abu Dhabi $400m tech start-up fund to open in London
Mubadala, the Abu Dhabi state investment company, has announced it will headquarter its new $400 million (£309.5 million) European tech start-up fund in London.
Japan’s SoftBank Group has provided nearly half of the cash for the funding, it is believed.
Mubadala plans to invest between $5 million and $30 million in high-growth European tech companies.
The Financial Times reports the new fund will invest between $5 million and $30 million in suitable European start-ups.
Mubadala is a global investment company with a mandate to create sustainable financial returns.
It deploys capital across a variety of asset classes and geographies to generate sustainable risk-adjusted financial returns for the benefit of the United Arab Emirates.
The Softbank Vision Fund, managed by Softbank Group, raised more than $93 billion from investors including the Abu Dhabi investor, Saudi Arabia’s Public Investment Fund, Apple Inc, Foxconn, Qualcomm, Sharp Corp and SoftBank Group Corp.