Abu Dhabi's Mubadala strikes alliance with US venture capital fund manager Blue Opal Capital
Abu Dhabi company takes on anchor investor role in Blue Opal Capital's VC fund
Dubai: The Abu Dhabi fund operator Mubadala has signed up with the US-based fund-of-funds venture capital firm Blue Opal Capital, thus becoming an anchor investor in the latter's second VC fund.
Blue Opal Capital had recently launched a fund-of-fund platform to identify and invest in 'exceptional' entrepreneurial venture capitalists, with particular emphasis on such opportunities within the US itself.
“We are excited to back the Blue Opal Capital team, led by Ahmed Al Mosa, Sebastien de Jong and Federico Jost," said Faris al Mazrui, Head of Growth Investments at Mubadala. "The team has a solid track-record and a demonstrated ability in identifying emerging managers that have matured into top quartile VC firms.
"We see this partnership as an opportunity to continue building on Mubadala’s commitment to the space and are confident in Blue Opal Capital’s ability to anchor the next wave of VC managers in the US.”
Blue Opal Capital traditionally invests in emerging VC funds and co-investment opportunities that 'maximize investment returns for their partners'.
According to Ahmed Al Mosa, Partner at Blue Opal Capital, "With over two decades of experience in the VC ecosystem, our team at Blue Opal Capital is more empowered than ever to deliver on its mandate."