Mubadala to launch $400m euro tech fund

Start-upAbu Dhabi’s sovereign wealth fund Mubadala has announced plans to launch a $400 million fund dedicated to investments in European high-growth technology firms. The fund will be managed by the firm’s venture capital arm Mubadala Ventures and will count Japan’s SoftBank Group as a strategic investor via its subsidiary SIMI US Holdings. The launch was announced during London’s Tech Week, a state-sponsored event designed to promote investment opportunities in the UK’s startup sector. Mubadala says the fund will work closely with early-stage tech companies to help them establish operations in the Abu Dhabi technology hub it is looking to build and to target regional markets in Mena. “We see strong potential in the European tech ecosystem with an array of dynamic, founder-led companies seeking funding and support from a committed partner,” said Ibrahim Ajami, head of Mubadala Ventures. ©2018 funds global mena

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