Abu Dhabi to invest $15bn in SoftBank fund
19 May, 2017
Abu Dhabi sovereign fund Mubadala plans to invest as much as $15bn over five years in Japanese conglomerate SoftBank Group’s technology fund. Bloomberg quoted Ibrahim Ajami, head of venture capital at Mubadala Capital, as confirming the investment and stating the fund would be wrapped up in two or three weeks with about $95bn of commitments.
"This is a significant opportunity for good financial returns," Ajami said. "Our priority is financial return".
SoftBank unveiled plans for the Vision Fund last year, aiming to create a vehicle that would become one of the biggest technology investors over the next decade. Saudi Arabia’s Public Investment Fund has also committed as much as $45bn to the fund. The technology majors Apple and Qualcomm, have indicated that they will participate.
The newly formed Mubadala Investment Company officially launched earlier this month after Mubadala Development Company’s merger with International Petroleum Investment Company in January. The combined firm has around $125bn in assets including full ownership of US semiconductor maker Globalfoundries and a stake in Advanced Micro Devices.