Mubadala Investment Company

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Mubadala Investment Company
شركة مبادلة للاستثمار
TypeJoint stock company (Government owned)
IndustryDiversified investments
FoundedJanuary 2017
Headquarters,
Key people
Sheikh Mohammed bin Zayed Al Nahyan, Chairman
Khaldoon Khalifa Al Mubarak, CEO and Managing Director
RevenueIncrease AED 165.6 billion (2017)[1]
Increase AED 10.7 billion (2017)[1]
Total assetsIncrease AED 369.4 billion (2017))[1]
Total equityIncrease AED 258 billion (2017)[1]
Number of employees
55000
ParentAbu Dhabi
SubsidiariesPiaggio Aerospace
Mamoura Diversified Global Holding
IPIC
Group 42 (Emirati company)
Dolphin Energy
Nova Chemicals
GlobalFoundries
OMV
Oil Search
Websitewww.mubadala.com

Mubadala Investment Company PJSC (Arabic: شركة مبادلة للاستثمار‎) (Mubadala) is an Emirati state-owned holding company that can be characterized as a sovereign wealth fund. The organization is strongly connected to Mohamed bin Zayed, crown prince of Abu Dhabi.[2]

It was established in 2017 when then-named Mubadala Development Company (now Mamoura Diversified Global Holding) and the International Petroleum Investment Company (IPIC) merged. It is a wholly owned investment vehicle of the government of Abu Dhabi, in the United Arab Emirates.[3][4][5] Reportedly, Mubadala Investment was formed after Khadem al-Qubaisi, ex-managing director of IPIC, was arrested over his and the company’s involvement in the 1MDB scandal.[6]

History[edit]

In June 2016, it was announced that Mubadala Development Company (MDC) would merge with IPIC.[7][8][9] In 2017, ownership of both MDC and IPIC was transferred to a newly-created parent company, Mubadala Investment Company.[10]

Mubadala has a ventures unit called Mubadala Ventures.[11] Mubadala has invested in logistics software startup Turvo,[12] Alphabet-owned self-driving technology company Waymo,[13] Reliance Jio Platforms,[14] UK life sciences company Envision,[15] and Telegram.[16] Mubadala is a parent company of GlobalFoundries, a semiconductor foundry company.[17]

Mubadala Technology
Founded2014 (2014)
SuccessorAdvanced Technology Investment Company (ATIC)
Headquarters,
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.[18] ATIC owns the semiconductor foundry companies GlobalFoundries,[17] and Chartered Semiconductor Manufacturing (which later merged with GlobalFoundries).[19][20] ATIC has invested in Calxeda, a start-up company for producing ARM architecture-based computers for the server market.[21] In 2011, ATIC announced investments of $5.5 billion to expand chip manufacturing in Singapore, Dresden, and New York.[22][23] It also announced a $6–$8 billion computer chip factory in Abu Dhabi for completion in 2012.[24] 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.[25]

In 2021 Mubadala purchased a 2.6% stake in En+ Group, a manufacturer of green aluminum, from Polina Yumasheva, the former wife of Oleg Deripaska.[26]

References[edit]

  1. ^ a b c d "Mubadala Investment Company Announces Full Year 2017 Financial and Operational Highlights". Mubadala Investment Company. April 29, 2018.
  2. ^ 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.
  3. ^ "The Mubadala Story | Mubadala Development Company | Abu Dhabi, United Arab Emirates". Mubadala.ae. Retrieved 2012-08-13.
  4. ^ "Senior Executive Management". Mubadala. Retrieved 2014-06-05.
  5. ^ "Aviation News | Airline Profiles | Jobs & Aircraft Listings". Arabaviation.com. Retrieved 2014-06-05.
  6. ^ "Alleged 1MDB Conspirator Says He Is a Scapegoat for Emiratis". The Wall Street Journal. 23 January 2019. Retrieved 23 January 2019.
  7. ^ "Fast FT". next.ft.com. 29 June 2016. Retrieved 7 July 2016.
  8. ^ 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.
  9. ^ Kerr, Simeon (29 June 2016). "Abu Dhabi to merge sovereign wealth funds Ipic and Mubadala". Retrieved 7 July 2016.
  10. ^ "Mubadala and IPIC Officially Merge". Sovereign Wealth Fund Institute. January 22, 2017.
  11. ^ "Mubadala and Arbor Ventures Lead Series A in Tabby". www.swfinstitute.org. 2020-12-09. Retrieved 2020-12-10.
  12. ^ Phillips, Erica E. "Abu Dhabi State Fund Leads $60 Million Funding in Logistics Software Startup". WSJ. Retrieved 2018-11-09.
  13. ^ "Mubadala invests in autonomous, self-driving technology company Waymo". www.institutionalassetmanager.co.uk. 2020-03-03. Retrieved 2020-03-05.
  14. ^ "Investors Flock to Pick Up Stake in Ambani's Jio Platforms | TopNews". topnews.in. Retrieved 2020-06-07.
  15. ^ "Mubadala, other investors acquire majority stake in UK life sciences company Envision".
  16. ^ Natasha Lomas (23 March 2021). "Telegram raises $150M from Mubadala and Abu Dhabi CP via pre-IPO convertible bonds". TechCrunch. Retrieved 23 March 2021.
  17. ^ a b "The National", accessed October 28, 2013.
  18. ^ "About Us", ATIC, accessed June 12, 2011.
  19. ^ “Press Release”, ATIC, accessed June 14, 2011.
  20. ^ “Abu Dhabi to take on Taiwan’s Chipmakers”, Financial Times, accessed June 14, 2011.
  21. ^ “Green chip start-up gets $48 million in funding”, CNET, accessed June 14, 2011.
  22. ^ "Abu Dhabi’s ATIC Investing in Chip Plant, Sees Acquisitions", “Bloomberg”, May 18, 2011, accessed June 12, 2011.
  23. ^ “A future built on silicon”, “Arab News”, accessed June 14, 2011.
  24. ^ “ATIC to raise Globalfoundries stake”, “The National”, accessed June 14, 2011.
  25. ^ "Advanced Technology Investment Company (ATIC) to become Mubadala Technology". www.mubadala.com. 2014-05-01. Retrieved 2020-11-20.
  26. ^ "Abu Dhabi's Mubadala buys 2.6% of Russia's En+ group". Reuters. 2021-06-23. Retrieved 2021-09-15.

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