Mubadala Investment Company on Wednesday unveiled plans to create a $400 million fund to invest in major high-growth European technology companies.
The new fund will be managed by Mubadala Ventures, the capital arm of Mubadala, and SoftBank Group will participate as a strategic investor through its unit SIMI US Holdings.
“We believe the UK is a very strong market for future technology innovation and entrepreneurship. Tech Week reinforces both its existing technology base and the call for new investors in the UK,” Mubadala’s deputy Group CEO Waleed Al Mokarrab Al Muhairi commented.
Mubadala Ventures is also planning to expand its funds programme to invest in established and emerging fund managers across Europe, the UAE-based company revealed in a statement.
“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,” head of Mubadala Ventures Ibrahim Ajami said.