Abu Dhabi is betting big on technology and innovation
September 6, 2019
According to an article published on Reuters, Abu Dhabi is betting big on technology and innovation that are central to the emirate’s economic diversification strategy. Accordingly, Mubadala is expected to invest in Vision Fund 2 in the fourth quarter of 2019. SoftBank, a Japanese telecom and investment group, announced Vision Fund 2 in July, and has already secured pledges for it totaling about $108 billion. Fund II will focus on technology projects.
The article went on to state that in 2017, the United Arab Emirates and Saudi Arabia, who are political and economic allies, contributed nearly 2/3rd to SoftBank’s technology and innovation focused $100 billion Vision Fund 1 through their sovereign wealth funds.
Read the original article on Zawya: Mubadala is expected to invest in Vision Fund II in Q4 2019