UAE’s Mubadala considers $15bn investment in technology fund
SoftBank has been in talks with Saudi Arabia's Public Investment Fund for an investment as much as $45bn
Abu Dhabi's Mubadala Development Co is contemplating whether to invest $15bn in Japan's SoftBank Group technology fund, according to sources close to matter.
Reported by Bloomberg, SoftBank is close to announcing a $95bn investment commitment from a pool of companies.
CEO Masayoshi Son said at a briefing in Tokyo: "It's very close. The details have been pretty much decided on. It's just a matter of time."
The Vision Fund is a joint venture between SoftBank and Saudi Arabia's Public Investment Fund (PIF), where the outcome is to invest in emerging technologies, such as artificial intelligence, robotics and the Internet of Things.
SoftBank has revealed it will invest $25bn of its own capital into the Vision Fund and Saudi Arabia's sovereign wealth fund would consider investing $45bn.
Technology giants, such as Apple and Qualcomm, have also committed to the fund.