Mubadala launches $400 mln European tech fund with Japan’s SoftBank

Abu Dhabi’s strategic firm Mubadala Investment Co. is partnering with Japan’s SoftBank Group to launch a $400 million fund that will target investment in European technology companies, The National newspaper reported.

The fund will be managed by the Abu Dhabi fund’s venture capital arm, Mubadala Ventures, and SoftBank’s investment subsidiary SIMI US Holdings.

Mubadala’s newly set up tech fund will work closely with early stage UK and other European funds and will invest in both established and emerging asset managers across Europe.

In October, Mubadala, which manages more than $200 billion in assets, announced the launch of a venture capital arm to oversee its $15bn commitment to Softbank’s Vision Fund, as well as two other funds.