Mubadala to invest $15 billion to SoftBank fund

Adelle Geronimo by Adelle Geronimo - January 9th, 2017

According to a recent report by Bloomberg, Abu Dhabi’s Mubadala Development Co. is planning to commit $10 billion to $15 billion to Japan’s SoftBank Group and Saudi Arabia’s Public Investment’s (PIF) technology fund.

The SoftBank Vision Fund is set to close in January and will be capped at $100 billion. However, the report noted that no agreements have been reached as yet, and Mubadala hasn’t made a final decision on the amount it will invest. Mubadala and SoftBank still haven’t commented on the subject.

The technology fund has been announced in October last year with SoftBank committing at least $25 billion in the next five years and PIF investing as much as $45 billion.

A number of other tech companies have already confirmed their investments into the fund including Apple who had pledged $1 billion earlier this week. Qualcomm Inc. will also partake, according to reports, however, the terms of its participation are still under discussion. Foxconn Technology and Oracle Chairman Larry Ellison have also expressed interest to contribute.

Copyright © 2017 Computer News Middle East. All rights reserved. Product of CPI Media Group. For more information e-mail us at Privacy Policy
REGISTER NOW | Network World Awards 2017 REGISTER NOW | Network World Awards 2017
* E-mail * First name: * Last name:
* Job title: * Industry sector: * Country: