Mubadala makes a $15bn commitment to the Softbank Vision Fund
Investment builds on Mubadala’s track record of global technology investment and development
ABU DHABI, UAE: Mubadala Investment Company, the Abu Dhabi strategic investment fund, today 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., today 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.
Mubadala has a proven track record of investing and developing pioneering technology companies, as an investor in AMD, the Nasdaq-listed multinational known for developing computer processors and related technologies; GLOBALFOUNDRIES, the second largest semiconductor foundry company in the world; Emirates Integrated Communications Company, known as du; and Al Yah Satellite Communications Company or Yahsat, a UAE-based company which has already launched two satellites into space with a third scheduled for launch this year. Mubadala also has a joint venture with IBM Watson called Cognit, which provides transformative cognitive computing and evidence based decision making to customers in the Middle East and North Africa.
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.
Masayoshi Son, Chairman & CEO of SoftBank Group Corp. and Chairman of the SoftBank Vision Fund Investment Committee, said: “Technology has the potential to address the biggest challenges and risks facing humanity today. The businesses working to solve these problems will require patient long-term capital and visionary strategic investment partners with the resources to nurture their success. SoftBank has long made bold investments in transformative technologies and supported disruptive entrepreneurs. The SoftBank Vision Fund is consistent with this strategy and will help build and grow businesses creating the foundational platforms of the next stage of the Information Revolution.”