Abu Dhabi: Mubadala Investment Company has invested in about 16 different hi-tech projects in silicon valley as part of a partnership with Softbank group, the firm’s Deputy group CEO said in Abu Dhabi.
“This partnership we’ve had with soft bank is absolutely [a] step in the right direction. The investments are in areas like artificial intelligence, semiconductors, cutting-edge agricultural technology, medical robotics biotechnology,” said Waleed Al Muhairi.
Earlier this year, Mubadala, the Abu Dhabi-based strategic investment fund made a $15 billion (Dh55.05 billion) commitment to $93 billion SoftBank Vision Fund, a major technology and innovation-focused fund, alongside a consortium of leading investors including Public Investment Fund of Saudi Arabia.
The firm which was created by the merger of Mubadala Development Company and International Petroleum Investment Company is also planning to deepen its investments in the petrochemical sector in the US and it recently made an investment in the downstream facility in the southern gulf coast.
“We have an upstream, mid-stream and downstream business. Downstream petrochemical business is the largest with upstream being the second largest. In the next few years [it] looks like, there is no question that we are going to deepen in the downstream space.”
When asked whether they are planning to list any of their subsidiary firms, he said Emirates Global Aluminium will be listed next year.
Mubadala is also looking at investments in areas such as road and transportation globally.
