Mubadala, BPI France sign new investment agreement

Francesca Veronesi
28 November 2018

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Abu Dhabi sovereign wealth fund Mubadala Investment Company and BPI France have signed a new investment agreement for €300m, which will target French startups.

An agreement between Mubadala Investment Company and BPI France was signed a week ago by Nicolas Dufourcq, chairman of BPI France, and Khaldoon Al Mubarak, chairman of the Executive Affairs Authority, Abu Dhabi, creating a new joint co-investment programme with a volume of €300m.

The vehicle will be dedicated to French startups specifically and has a focus on technology and innovation.

Both entities are also in the process of agreeing the extension of the existing co-investment programme (Franco Emirati Fund) with an additional €700m. The co-investment programme was created in 2014 and has already committed more than €300m to support the development of French companies with a proven growth potential through long-term investments in healthcare, education, elderly care, real estate and affinity insurance.

These developments follow a previous agreement signed around a year ago, during the official visit of the French president Emmanuel Macron in Abu Dhabi. The objective was to develop an integrated platform with a target investment capacity of up to €1bn.