Abu Dhabi's Mubadala is building up a taste for tech investments
Investments related to med-tech could be the next big thing for $232b fund
Abu Dhabi: Mubadala Investment Co. is planning more exposure to technology after the Abu Dhabi fund took a $1.2 billion stake in India's Reliance Industries Ltd.'s Jio Platforms.
Technology - in particular med-tech, venture and the broad technology sphere - is "the place to go," CEO Khaldoon Al Mubarak said. "We need to be much more exposed to technology in all its facets. We're on the right track."
Mubadala is looking at India, China and Southeast Asia for possible investments, Al Mubarak said.
The $232 billion fund - one of the world's biggest - is ready to use its growing cash pile to buy more stocks and make other equity investments, possibly in the US, Saeed Al Mazrouei, deputy chief financial officer and head of mergers and acquisitions at the Abu Dhabi-based firm, said earlier this month.