Abu Dhabi’s state-owned Mubadala Investment Co is aiming to invest between $5 million and $30 million in European startups.
On Monday, as per a report from the Financial Times, Japan’s SoftBank Group has provided nearly 50% of the cash for the new $400 million fund by Abu Dhabi’s state-owned Mubadala Investment Co.
Mubadala Investment Co, aimed at backing European start-ups, is a big investor in SoftBank’s Vision Fund. The firm aims to invest between $5 million and $30 million in European startups, reported the FT citing sources with direct knowledge of the matter.
Last week, as per a executive from Mubadala Ventures, it was planning to launch a technology-focused $400 million European fund in 2019.
The European venture fund, which incidentally has already made a few undisclosed investments, will be run from a new office in London, said the FT in its report.
While SoftBank did not immediately respond to a request seeking comment, Mubadala was not immediately available for comment.