Mubadala Investment Company

Mubadala Investment Company PJSC (Arabic: شركة مبادلة للاستثمار), or simply Mubadala, is an Emirati state-owned holding company that acts as a sovereign wealth fund. The company was established in 2017 when then-named Mubadala Development Company (now Mamoura Diversified Global Holding) and the International Petroleum Investment Company (IPIC) merged.[2][3]

Mubadala Investment Company
شركة مبادلة للاستثمار
TypeJoint stock company (Government owned)
IndustryDiversified investments
FoundedJanuary 2017 (January 2017)
Headquarters
Abu Dhabi
,
United Arab Emirates
Key people
  • Sheikh Mohammed bin Zayed Al Nahyan
    (Chairman)
  • Khaldoon Khalifa Al Mubarak
    (CEO & Managing Director)
Revenue AED 165.6 billion (2017)[1]
AED 10.7 billion (2017)[1]
Total assets AED 369.4 billion (2017))[1]
Total equity AED 258 billion (2017)[1]
Number of employees
55,000
ParentEmirate of Abu Dhabi
SubsidiariesPiaggio Aerospace
Mamoura Diversified Global Holding
IPIC
Group 42
Masdar
Dolphin Energy
Nova Chemicals
GlobalFoundries
OMV
Oil Search
MetrôRio
Websitewww.mubadala.com

History

In June 2016, it was announced that Mubadala Development Company would merge with the International Petroleum Investment Company.[4][5][6] In 2017, ownership of both MDC and IPIC was transferred to a newly-created parent company, Mubadala Investment Company.[7] The company is a wholly owned investment vehicle of the government of Abu Dhabi, in the United Arab Emirates, and Sheikh Mohamed bin Zayed, the current ruler of Abu Dhabi and President of the United Arab Emirates, is a chairman in the company.[8][9]

Investments and ventures

Mubadala has a ventures unit called Mubadala Ventures.[10] Mubadala has invested in logistics software startup Turvo,[11] Alphabet-owned self-driving technology company Waymo,[12] Reliance Jio Platforms,[13] UK life sciences company Envision,[14] and Telegram.[15] Mubadala is a parent company of GlobalFoundries, a semiconductor foundry company.[16]

The company owns stakes in numerous companies, including a 5 percent share in Ferrari,[17] a 6.9 percent share in AMD,[18] and a 7.5 percent share in the Carlyle Group.[19][20] In 2021, Mubadala purchased a 2.6% stake in En+ Group, a manufacturer of green aluminum, from Polina Yumasheva, the former wife of Russian businessman Oleg Deripaska.[21] The same year, Mubadala purchased MetrôRio, the company that holds the operations for the Rio de Janeiro metro, from Invepar.

A unit of the company, Mubadala Capital, invested €50 million in the Novalpina Capital private equity fund of €1 billion, which bought the NSO Group in 2019. Reports revealed that the UAE targeted human rights activists, journalists and Princess Haya using the Pegasus spyware, during the same time. Mubadala Capital got a seat on Novalpina’s committee of largest investors.[22]

Mubadala capital an investment company owned by Abu Dhabi has been a top investor in Israeli cyber weapons maker NSO Group since 2019 with an investment of €50mn.[23]

In May 2022, Mubadala Investment Company signed a preliminary agreement with French utility Engie for the development of a digital platform to charge electric vehicles in the UAE and across the Middle East. The two companies would also explore areas related to sustainable mobility.[24]

Mubadala Technology
Mubadala Technology
Founded2014 (2014)
SuccessorAdvanced Technology Investment Company (ATIC)
Headquarters
Abu Dhabi
,
UAE
Key people
Ibrahim Ajami (CEO)
ParentMubadala Investment Company

The company's Advanced Technology Investment Company (ATIC) in 2008, is an investment company in the high-technology sector.[25] ATIC owns the semiconductor foundry companies GlobalFoundries,[16] and Chartered Semiconductor Manufacturing (which later merged with GlobalFoundries).[26][27] ATIC has invested in Calxeda, a start-up company for producing ARM architecture-based computers for the server market.[28] In 2011, ATIC announced investments of $5.5 billion to expand chip manufacturing in Singapore, Dresden, and New York.[29][30] It also announced a $6–$8 billion computer chip factory in Abu Dhabi for completion in 2012.[31] The company supports research initiatives in Khalifa University, UAE University, American University of Sharjah, Masdar Institute and New York University Abu Dhabi. In 2014, ATIC became Mubadala Technology.[32]

Mubadala Energy

Mubadala Energy (formerly Mubadala Petroleum) plan to expand into LNG, blue hydrogen and carbon capture. Mubadala Energy works in eleven markets and employs over 500 people.[33]

References
  1. "Mubadala Investment Company Announces Full Year 2017 Financial and Operational Highlights". Mubadala Investment Company. April 29, 2018.
  2. "Senior Executive Management". Mubadala. Retrieved 2014-06-05.
  3. "Aviation News | Airline Profiles | Jobs & Aircraft Listings". Arabaviation.com. Retrieved 2014-06-05.
  4. "Fast FT". Financial Times. 29 June 2016. Retrieved 7 July 2016.
  5. French, David; Tolba, Ahmed; Aboudi, Sam (29 June 2016). "Abu Dhabi government orders merging of Mubadala And IPIC - state news agency". Reuters. Retrieved 7 July 2016.
  6. Kerr, Simeon (29 June 2016). "Abu Dhabi to merge sovereign wealth funds Ipic and Mubadala". Financial Times. Retrieved 7 July 2016.
  7. "Mubadala and IPIC Officially Merge". Sovereign Wealth Fund Institute. January 22, 2017.{{cite web}}: CS1 maint: url-status (link)
  8. "The Mubadala Story | Mubadala Development Company | Abu Dhabi, United Arab Emirates". Mubadala.ae. Retrieved 2012-08-13.
  9. Ennis, Crystal A. (2018). "Reading entrepreneurial power in small Gulf states: Qatar and the UAE". International Journal. 73 (4): 573–595. doi:10.1177/0020702018809980. hdl:1887/71834. ISSN 0020-7020. S2CID 150220133.
  10. "Mubadala and Arbor Ventures Lead Series A in Tabby". www.swfinstitute.org. 2020-12-09. Retrieved 2020-12-10.
  11. Phillips, Erica E. "Abu Dhabi State Fund Leads $60 Million Funding in Logistics Software Startup". WSJ. Retrieved 2018-11-09.
  12. "Mubadala invests in autonomous, self-driving technology company Waymo". www.institutionalassetmanager.co.uk. 2020-03-03. Retrieved 2020-03-05.
  13. "Investors Flock to Pick Up Stake in Ambani's Jio Platforms | TopNews". topnews.in. Retrieved 2020-06-07.
  14. "Mubadala, other investors acquire majority stake in UK life sciences company Envision".
  15. Natasha Lomas (23 March 2021). "Telegram raises $150M from Mubadala and Abu Dhabi CP via pre-IPO convertible bonds". TechCrunch. Retrieved 23 March 2021.
  16. "The National", accessed October 28, 2013.
  17. Bhoyrul, Anil (18 September 2008). "Mubadala boss poised to take helm at Man City". Arabian Business. Retrieved 13 October 2010.
  18. "Mubadala sells AMD shares for $800 million and converts warrants to retain 6.9% stake". 5 February 2019. Retrieved 27 February 2022.
  19. Heath, Thomas (15 February 2008). "Pair of Proposals Take Aim at Carlyle Group". Washington Post. Retrieved 22 September 2008.
  20. "GE & Mubadala Partnership". General Electric. Archived from the original on 15 March 2009. Retrieved 16 February 2009.
  21. "Abu Dhabi's Mubadala buys 2.6% of Russia's En+ group". Reuters. 2021-06-23. Retrieved 2021-09-15.
  22. "Abu Dhabi state funds were used to buy Israeli spyware group NSO". The Financial Times. April 2022. Retrieved 1 April 2022.
  23. "Abu Dhabi state funds were used to buy Israeli spyware group NSO". Ft. March 31, 2022. Retrieved 31 March 2022.
  24. "Mubadala teams up with France's Engie to develop electric vehicle charging platform in UAE". The National. 2022-05-10. Retrieved 2022-05-11.
  25. "About Us", ATIC, accessed June 12, 2011.
  26. “Press Release”, ATIC, accessed June 14, 2011.
  27. “Abu Dhabi to take on Taiwan’s Chipmakers”, Financial Times, accessed June 14, 2011.
  28. “Green chip start-up gets $48 million in funding”, CNET, accessed June 14, 2011.
  29. "Abu Dhabi’s ATIC Investing in Chip Plant, Sees Acquisitions", “Bloomberg”, May 18, 2011, accessed June 12, 2011.
  30. “A future built on silicon”, “Arab News”, accessed June 14, 2011.
  31. “ATIC to raise Globalfoundries stake”, “The National”, accessed June 14, 2011.
  32. "Advanced Technology Investment Company (ATIC) to become Mubadala Technology". www.mubadala.com. 2014-05-01. Retrieved 2020-11-20.
  33. Salian, Neesha (2022-09-06). "Mubadala Petroleum rebrands as Mubadala Energy". Gulf Business. Retrieved 2022-09-06.
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