Abu Dhabi’s Mubadala Development Co. is considering committing $10 billion to $15 billion to partner with SoftBank Group Corp and Saudi Arabia’s Public Investment Fund in a new vehicle to invest in global technology, according to people familiar with the matter.

The SoftBank Vision Fund is set to close in January and will be capped at $100 billion, the people said, asking not to be identified as the information is private. No agreements have been reached, and Mubadala hasn’t made a final decision on the amount it will invest, the people said.

A spokesman for Mubadala declined to comment. Representatives for SoftBank didn’t immediately respond to calls and e-mails seeking comment.

Masayoshi Son’s SoftBank announced the new venture in October, agreeing to commit at least $25 billion in the next five years with the Saudis putting in as much as $45 billion. The Tokyo-based company has lined up $10 billion to $15 billion in financing from Japanese banks to partly finance their share of the fund, with the rest coming from future asset disposals, the people said.

Apple Inc said this week it’s planning to invest $1 billion in the fund and Qualcomm Inc said it will participate, with terms still under discussion. Foxconn Technology Co. Ltd. and Oracle Corp Chairman Larry Ellison also intend to contribute, a person familiar with the matter has said. SoftBank has also held discussions with other sovereign wealth funds including the Qatar Investment Authority, separate people said.

Investors from Gulf Arab states are looking for new sources of income to lessen their reliance on volatile oil markets. Saudi Arabia’s PIF made a $3.5 billion investment in ride-hailing company Uber Technologies Inc in June. Mubadala is in talks to merge with International Petroleum Investment Co. in a deal that would pool assets of about $125 billion in a single entity.