Mubadala, PIF back Vision Funds SPAC strategy

According to an article published by The National, Abu Dhabi's Mubadala Investment Company and Saudi Arabia's Public Investment Fund (PIF), who have combined commitments of $83 billion in SoftBank's Vision Fund, are expecting up to seven of the fund's portfolio companies to go public in 2021.

The article went on to note that SoftBank plans to launch two more special-purpose acquisition companies (SPACs) in 2021, as it looks to raise as much as $630 million for companies wanting to become publicly traded through an initial public offering (IPO).

Read the original article on The National: SoftBank reports surge in Q3 profit as value of Vision Fund assets climbs