Mubadala launches European tech fund

The vehicle will be managed by the firm's venture capital arm Mubadala Ventures, and is launched to coincide with Mubadala's strategy to increase its fund-of-funds and direct investment activity in Europe.

Mubadala is currently investing from a US-focused early-stage vehicle, Mubadala Ventures Fund 1, and has also made commitments to fund managers including Data Collective, 8VC, Foundry Group and Upfront Ventures.

Investors
Softbank will act as a cornerstone investor in the new vehicle, committing capital via its SIMI US Holdings I subsidiary.

Investments
Mubadala will invest alongside early-stage European funds in order to enable companies to establish operations in Abu Dhabi as a base for operations in the Gulf and Middle East markets. It will focus on technology businesses looking to expand globally.

People
Mubadala Investment Company – Ibrahim Ajami (head of venture).

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• Venture