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Mubadala ready to double down on SoftBank tech fund investment

Mubadala is seeking to ramp up its investment capital in one of the world’s biggest technology funds- SoftBank Vision Fund. Mubadala CEO Khaldoon Al Mubarak told CNBC the firm was currently looking at investment opportunities in artificial intelligence, virtual reality and e-commerce.

When asked by CNBC about Mubadala’s investments as part of the SoftBank Vision Fund to date, Al Mubarak said: “We have done more than 20 transactions since we entered into this partnership, all of which we are very excited about.”

Unveiled less than a year ago, the SoftBank Vision Fund has already become one of the largest tech funds in the world. By May, the fund had closed $93 billion in capital, and it hopes to raise $100 billion by the end of 2017.

Saudi Arabia is the most prominent investor into the Vision Fund, followed by SoftBank. Other investors include Mubadala, Apple, Foxconn, Sharp and Qualcomm.

Mubadala’s CEO said the company had been following the performance of SoftBank for more than three decades, adding that the Japanese tech giant had a “very strong track record” with previous investments.

However, while SoftBank’s previous investments were certainly relevant, Al Mubarak said the key for the UAE’s state fund was to find the “right assets at a risk-acceptable valuation.”

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