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Abu dhabi / WAM
Mubadala Investment Company, the Abu Dhabi strategic investment fund, confirmed that it has made a US$15 billion commitment to the Softbank Vision Fund, a major technology and innovation focused fund, alongside a consortium of leading investors. The investors are joining forces to create value from the significant wave of technological change and innovation that is transforming global industries and societies.
The Softbank Vision Fund, managed by Softbank Group Corp., on Saturday announced that it has become fully operational by raising over US$93 billion in committed capital from investors including the Public Investment Fund of the Kingdom of Saudi Arabia, Apple Inc., Foxconn, Qualcomm, Sharp Corporation and SoftBank Group Corp.
The consortium of investors have come together in the shared vision that the next stage of the Information revolution will define the future of society and deliver exponential growth and investor value. The Fund will invest in and support leading companies and exceptional entrepreneurs building software, hardware, and internet platforms in areas such as connectivity, data analytics, artificial intelligence, new forms of computing, and deep science applications. The Fund will look for opportunities in how these applications are impacting major global industries including manufacturing, healthcare, financial services, space, and transportation.
Khaldoon Khalifa Al Mubarak, Group Chief Executive Officer & Managing Director, Mubadala Investment Company, said: “Our participation in the SoftBank Vision Fund perfectly complements Mubadala’s strategy as a long-term global investor and partner to the technology sector’s high-growth companies. Technology and innovation are central to the UAE’s economic diversification strategy, helping to create entirely new economic sectors and career pathways. We believe the Vision Fund has the scale, expertise, and investors to deploy capital and support the growth of leading technology companies and entrepreneurs.
Mubadala’s position within the fund will be managed by Mubadala Capital, the financial investment arm of Mubadala Investment Company. The Fund will acquire minority and majority interests in both private and public companies, from emerging technology businesses to established, multi-billion dollar companies requiring substantial growth funding.