Wednesday 8 July 2020
 
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Khaldoon Al Mubarak

Mubadala eyes more technology investments

ABU DHABI, 15 days ago

Mubadala Investment Company, Abu Dhabi's sovereign wealth fund, is planning more exposure to technology after the recent $1.2 billion stake in India’s Reliance Industries' Jio Platforms, said a Bloomberg Television report.
 
Speaking to Manus Cranny, Bloomberg Television during a virtual Bloomberg Invest Global conference, Khaldoon Al Mubarak, Group Chief Executive Officer and Managing Director at Mubadala Investment Company, said: “We need to be much more exposed to technology in all its facets. We’re on the right track.”
 
Mubadala Investment Company is preparing to double down on its exposure to the technology sector, setting its sights on Asia, after the Abu Dhabi fund took a $1.2 billion stake in India’s Jio Platforms. Technology, in particular the venture space, medical technology, life sciences and artificial intelligence, is “the place to go,” Al Mubarak said. “That’s the arena for us to build experiences and expertise in and to deploy significant capital.”
 
The $232-billion fund is looking at India, China and Southeast Asia for potential investments. “We are, from a relative perspective, under-invested in Asia,” he said. “So you’ll see us grow our portfolio in Asia and expect us to do more in the med-tech space, artificial intelligence, life sciences, agribusiness. These are spaces we like.” - TradeArabia News Service



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