Mubadala IC continues VC pursuit

The Abu Dhabi sovereign wealth fund teams up with SoftBank Group to further explore European VC opportunities.

Mubadala Investment Company of Abu Dhabi announced its intention to set up a $400 million venture capital fund to invest in founder-led, high growth technology companies in Europe.

The fund will be managed by Mubadala Ventures, the venture capital arm of Mubadala. Also, SoftBank Group will participate as a strategic investor through its subsidiary, SIMI US Holdings.

Previously, Mubadala Investment Company partnered with SoftBank to establish a $400 million Mubadala Ventures Fund I and a $200 million VC fund-of-funds to invest in emerging managers.

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