The fund will be managed by the Abu Dhabi fund’s venture capital arm, Mubadala Ventures, with SoftBank participating via its investment subsidiary SIMI US Holdings. AP Photo/Shizuo Kambayashi
The fund will be managed by the Abu Dhabi fund’s venture capital arm, Mubadala Ventures, with SoftBank participating via its investment subsidiary SIMI US Holdings. AP Photo/Shizuo Kambayashi

Mubadala launches $400m European tech fund with Japan’s SoftBank



Abu Dhabi's strategic firm Mubadala Investment Company is partnering with Japan's SoftBank Group to launch a $400 million (Dh1.47 billion) fund that will target investment in European technology companies.

“We believe the UK is a very strong market for future technology innovation and entrepreneurship,” Waleed Al Muhairi, deputy group chief executive and chief executive of alternative investments and infrastructure at Mubadala, said in an emailed statement on Wednesday.

"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."

The fund will be managed by the Abu Dhabi fund’s venture capital arm, Mubadala Ventures, with SoftBank participating via its investment subsidiary SIMI US Holdings.

In October, Mubadala, which manages more than $200 billion in assets, announced the launch of a venture capital arm to oversee its $15bn commitment to Softbank’s Vision Fund, as well as two other funds.

Mubadala joined Saudi Arabia’s sovereign wealth fund, the Public Investment Fund in co-investing in the $100bn Softbank fund, along with Apple, Foxonn and others global players.

Mubadala's newly set up tech fund will work closely with "early stage UK and other European funds," the company said. The VC arm will also expand its "fund of funds programme" to invest in both established and emerging asset managers across Europe, it added.

_______________

Read more:

_______________

“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 Mubadala Ventures head Ibrahim Ajami.

“Mubadala has the global network of large assets and relationships and a partner mindset to accelerate the development of Europe’s high-growth tech companies,” he added.

The new "fund of funds" will allow for European tech companies to establish base in Abu Dhabi with a view to expand operations in the wider Gulf and Middle East markets.

SoftBank, which recently announced ex-Deutsche Bank executive Faisal Rahman as its new Middle East and North Africa head, sees possible synergies with companies in Europe.

“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,” said Ron Fisher, director and vice chairman of SoftBank Group.

Mubadala's VC arm, which is based in San Francisco, is part of Mubadala Capital, the company's financial investment unit that manages more than $10bn in assets across its portfolio.

Mubadala has made earlier forays into tech, with an investment in 2007 in US semiconductor maker Advanced Micro Devices. Its other tech investments include GlobalFoundries, another semiconductor manufacturer, satellite company Yahsat and a stake in Dubai telecom operator du.

The National's picks

4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young

The biog

Name: Mohammed Imtiaz

From: Gujranwala, Pakistan

Arrived in the UAE: 1976

Favourite clothes to make: Suit

Cost of a hand-made suit: From Dh550

 

Mia Man’s tips for fermentation

- Start with a simple recipe such as yogurt or sauerkraut

- Keep your hands and kitchen tools clean. Sanitize knives, cutting boards, tongs and storage jars with boiling water before you start.

- Mold is bad: the colour pink is a sign of mold. If yogurt turns pink as it ferments, you need to discard it and start again. For kraut, if you remove the top leaves and see any sign of mold, you should discard the batch.

- Always use clean, closed, airtight lids and containers such as mason jars when fermenting yogurt and kraut. Keep the lid closed to prevent insects and contaminants from getting in.

 

The Greatest Royal Rumble card

50-man Royal Rumble - names entered so far include Braun Strowman, Daniel Bryan, Kurt Angle, Big Show, Kane, Chris Jericho, The New Day and Elias

Universal Championship Brock Lesnar (champion) v Roman Reigns in a steel cage match

WWE World Heavyweight ChampionshipAJ Styles (champion) v Shinsuke Nakamura

Intercontinental Championship Seth Rollins (champion) v The Miz v Finn Balor v Samoa Joe

United States Championship Jeff Hardy (champion) v Jinder Mahal

SmackDown Tag Team Championship The Bludgeon Brothers (champions) v The Usos

Raw Tag Team Championship (currently vacant) Cesaro and Sheamus v Matt Hardy and Bray Wyatt

Casket match The Undertaker v Rusev

Singles match John Cena v Triple H

Cruiserweight Championship Cedric Alexander v Kalisto

Key facilities
  • Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
  • Premier League-standard football pitch
  • 400m Olympic running track
  • NBA-spec basketball court with auditorium
  • 600-seat auditorium
  • Spaces for historical and cultural exploration
  • An elevated football field that doubles as a helipad
  • Specialist robotics and science laboratories
  • AR and VR-enabled learning centres
  • Disruption Lab and Research Centre for developing entrepreneurial skills
Skewed figures

In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458. 

THE SPECS

Engine: 3.6-litre V6

Transmission: nine-speed automatic

Power: 310hp

Torque: 366Nm

Price: Dh200,000

UAE v Gibraltar

What: International friendly

When: 7pm kick off

Where: Rugby Park, Dubai Sports City

Admission: Free

Online: The match will be broadcast live on Dubai Exiles’ Facebook page

UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)

A MINECRAFT MOVIE

Director: Jared Hess

Starring: Jack Black, Jennifer Coolidge, Jason Momoa

Rating: 3/5

2025 Fifa Club World Cup groups

Group A: Palmeiras, Porto, Al Ahly, Inter Miami.

Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.

Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.

Group D: Flamengo, ES Tunis, Chelsea, Leon.

Group E: River Plate, Urawa, Monterrey, Inter Milan.

Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.

Group G: Manchester City, Wydad, Al Ain, Juventus.

Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.