Mubadala Energy announces new gas discovery in Malaysia
September 20, 2022 Mubadala Energy, the oil and gas unit of Abu Dhabi’s Mubadala Investment Company, has announced a new gas discovery off Malaysia as it seeks to expand its position in energy transition. The company discovered a "significant gas column of more than 110 metres" at the Cengkih-1 exploration well at Block SK320, off the coast of Sarawak province,…
Saudi Arabia launches a $776 million AI joint venture through its Public Investment Fund subsidiary
September 15, 2022 At the Global AI Summit being held in Saudi Arabia, the Saudi Public Investment Fund subsidiary and the Saudi Company for Artificial Intelligence launched a $776 million joint venture with Chinese SenseTime. The joint venture will develop the AI ecosystem in the Kingdom. The SCAI will work closely with SenseTime, and will also operate an AI lab…
Abu Dhabi’s ADQ fund becomes crucial to achieve domestic and international objectives of the country
September 13, 2022 ADQ, Abu Dhabi’s newest sovereign fund, has a remit to reshape the emirate’s economy and is key to the oil exporter’s diplomatic ambitions, according to industry experts. While the Abu Dhabi Investment Authority (ADIA) focuses almost exclusively on long-term financial returns, ADQ and Mubadala, another Abu Dhabi sovereign fund, have broader objectives, according to Steffen Hertog, Associate…
Abu Dhabi fund’s tech portfolio expands as Mubadala goes on purchase spree
August 25, 2022 Abu Dhabi’s Mubadala Investment Co. has taken advantage of tumbling tech firm valuations to make a series of investments in small- to mid-sized tech companies worldwide this year. Formed in 2017 after the merger of Abu Dhabi’s state-owned International Petroleum Investment Co. (IPIC) and Mubadala Development Co., Mubadala invests both at home and abroad. In December 2021,…
Qatar Wealth Fund and other backers help Celonis raise $1 billion
August 24, 2022 Software firm Celonis has raised $1 billion in funding from backers including the Qatar Investment Authority. Celonis was valued at $13 billion as part of the round, and the secured $1 billion will be used to build out its software aimed at helping companies to carry out their operations efficiently, according to a Bloomberg report. Read the…