This archive report was first published on 23 October 2019.
On October 23, 2019, Mubadala Capital announced the launch of its first MENA-focused tech investment fund, aimed at boosting the UAE and the MENA region's growing start-up scene.
The fund, which has a total of $250 million, includes a $150 million 'fund of funds' program to be invested into funds supporting the Abu Dhabi-based Hub71 ecosystem, as well as startups working with Hub71 for regional expansion and growth.
According to Ibrahim Ajami, Head of Ventures at Mubadala Capital, the fund will drive the economic development of Abu Dhabi by stimulating tech investment activity. 'After ten years of investing in tech companies around the world, the time has come to leverage the experience and expertise we've gained for the benefit of our home market,' Ajami said.
Mubadala Capital has a total asset base of $225 billion and invests in private and public equity, venture capital, and credit. The firm has offices in Abu Dhabi, New York, San Francisco, Rio de Janeiro, and Moscow, with over 100 employees and has made investments of over $20 billion in aggregate.
