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Mubadala Investment Company
شركة مبادلة للاستثمار
Mubadala Investment Company logo.svg
TypeJoint stock company (Government owned)
IndustryDiversified investments
FoundedJanuary 2017
Headquarters
Abu Dhabi
,
United Arab Emirates
Key peopleSheikh Mohammed bin Zayed Al Nahyan, Chairman
Khaldoon Khalifa Al Mubarak, CEO and Managing Director
RevenueIncrease AED 165.6 billion (2017)[1]
Operating incomeIncrease AED 10.7 billion (2017)[1]
Total assetsIncrease AED 369.4 billion (2017))[1]
Total equityIncrease AED 258 billion (2017)[1]
Number of employees55000
ParentAbu Dhabi
SubsidiariesPiaggio Aerospace
Mamoura Diversified Global Holding
IPIC
Group 42 (Emirati company)
Dolphin Energy
Nova Chemicals
Piaggio Aerospace
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. It was established in January 2017 as a Public Joint Stock Company, merging the then-named Mubadala Development Company (now Mamoura Diversified Global Holding) and the International Petroleum Investment Company (IPIC), and is a wholly owned investment vehicle of the government of Abu Dhabi, in the United Arab Emirates. Mubadala’s mandate is to facilitate the diversification of Abu Dhabi’s economy. Its focus is on managing long-term, capital-intensive investments intended to deliver strong financial returns and tangible social benefits for the emirate.[2][3][4]

In June 2016, it was announced that Mubadala Development Company (MDC) would merge with IPIC.[5][6][7] In 2017, ownership of both MDC and IPIC was transferred to a newly-created parent company, Mubadala Investment Company.[8] 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.[9]

Mubadala is a parent company of GlobalFoundries, the world’s second largest semiconductor foundry company by revenue.[10]

Mubadala has a ventures unit called Mubadala Ventures. Mubadala invests in a wide range of startups and in December 2020 invested in Dubai-based Tabby.[11]

History[edit]

In November 2018, Mubadala led a new $60 million investment round in logistics software startup Turvo.[12]

In March 2020, Mubadala Investment Company joined a consortium of investors to invest a total of $2.25 billion in Alphabet-owned self-driving technology company Waymo.[13]

In May 2020, Mubadala was said to be in advanced talks with Reliance Industries Ltd RIL about investing around $1 billion in the Indian conglomerate’s Jio Platforms. If it goes ahead this will its largest investment in an Indian business. [14]

In June 2020, Mubadala Investment Company announced investment[15] of $1.2 billion in Reliance Jio Platforms for 1.85 percent stake, valuing Mukesh Ambani telecom venture Jio at $65 billion. For December 31, 2019, Mubadala in total reached 853 billion in AUM. [16]

In November 2020, the company announced the acquisition of a majority stake in UK life sciences company Envision in conjunction with other investors. Envision helps bio-pharmaceutical and medical device companies commercialize new compounds through medical strategy and communications.[17]

In March 2021, Mubadala Investment Company and its joint venture Abu Dhabi Catalyst Partners announced the purchase of Telegram convertible bonds worth $150 million.[18]

Mubadala Technology[edit]

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

Mubadala Technology, founded as Advanced Technology Investment Company (ATIC) in 2008, is an investment company in the high-technology sector,[19] owned by Mubadala Development Company, a wholly owned investment vehicle of the government of Abu Dhabi, in the United Arab Emirates.

Mubadala Technology wholly owns GlobalFoundries.

It also works to build what they describe as a technology ecosystem in Abu Dhabi, funding over AED 100 million in local R&D activities and supporting educational initiatives that have thus far reached over 1,000 UAE Nationals.[20][21]

History and growth[edit]

ATIC was established in 2008. Through a joint venture, ATIC and Advanced Micro Devices (AMD) created the world's third largest independent foundry GlobalFoundries in early 2009.[22] In late 2009, ATIC acquired Chartered Semiconductor Manufacturing of Singapore, the world's second largest dedicated independent semiconductor foundry.[23][24] In January 2010, the two operations were integrated, and have since functioned as one company under the GlobalFoundries brand.[25]

In August 2010, the firm joined with other investors to fund Texas-based Calxeda, a start-up company for producing ARM architecture-based computers for the server market.[26]

It "worked with the Massachusetts Institute of Technology to develop a masters program in microelectronics at the Masdar Institute of Science and Technology in Abu Dhabi."[27][28] Also in 2010, the firm joined a research partnership with the Semiconductor Research Corporation (SRC) to conduct research in the Abu Dhabi region.[29]

In 2011, it announced investments of $5.5 billion to expand chip manufacturing in Singapore, Dresden, and Saratoga County in the U.S. state of New York.[30][31] It also announced a $6–$8 billion computer chip factory in Abu Dhabi for completion in 2012.[32]

In 2014, ATIC became Mubadala Technology.[33]

Research and development[edit]

ATIC has invested more than Dh100 million in research grants and funds since 2009 for building a globally-competitive technology R&D ecosystem within Abu Dhabi.[20]

It partners with the Semiconductor Research Corporation, a leading university-research consortium, to drive local research towards minimum energy electronic systems.[34] It is supporting research initiatives spanning Khalifa University, UAE University, American University of Sharjah, Masdar Institute and New York University Abu Dhabi.

ATIC and the German state of Saxony have invested $4.8 million in twinned laboratories that research 3-D stacking of integrated circuits.[35]

Senior management[edit]

Ibrahim Ajami, Chief Executive Officer of ATIC and its successor Mubadala Technology,[33] oversaw the joint venture between ATIC and Advanced Micro Devices (AMD) of the creation of Global Foundries.[36]

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. ^ "The Mubadala Story | Mubadala Development Company | Abu Dhabi, United Arab Emirates". Mubadala.ae. Retrieved 2012-08-13.
  3. ^ "Senior Executive Management". Mubadala. Retrieved 2014-06-05.
  4. ^ "Aviation News | Airline Profiles | Jobs & Aircraft Listings". Arabaviation.com. Retrieved 2014-06-05.
  5. ^ "Fast FT". next.ft.com. 29 June 2016. Retrieved 7 July 2016.
  6. ^ 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.
  7. ^ Kerr, Simeon (29 June 2016). "Abu Dhabi to merge sovereign wealth funds Ipic and Mubadala". Retrieved 7 July 2016.
  8. ^ "Mubadala and IPIC Officially Merge". Sovereign Wealth Fund Institute. January 22, 2017.
  9. ^ "Alleged 1MDB Conspirator Says He Is a Scapegoat for Emiratis". The Wall Street Journal. Retrieved 23 January 2019.
  10. ^ "The National", accessed October 28, 2013.
  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. ^ “Mubadala in talks on $1 billion stake in Reliance’s Jio Platforms”, Platform Executive, accessed June 1, 2020.
  15. ^ "Investors Flock to Pick Up Stake in Ambani's Jio Platforms | TopNews". topnews.in. Retrieved 2020-06-07.
  16. ^ "Mubadala Investment Company Reached 853 Billion AED in AUM for 2019 | SWFI". swfinstitute.org. Retrieved 2020-06-13.
  17. ^ https://gulfnews.com/business/markets/mubadala-other-investors-acquire-majority-stake-in-uk-life-sciences-company-envision-1.1604579777407
  18. ^ Natasha Lomas (23 March 2021). "Telegram raises $150M from Mubadala and Abu Dhabi CP via pre-IPO convertible bonds". TechCrunch. Retrieved 23 March 2021.
  19. ^ "About Us", ATIC, accessed June 12, 2011.
  20. ^ a b "The National", accessed October 28, 2013.
  21. ^ "The National", accessed October 28, 2013.
  22. ^ "Leadership", ATIC, accessed June 12, 2011.
  23. ^ “Press Release”, ATIC, accessed June 14, 2011.
  24. ^ “Abu Dhabi to take on Taiwan’s Chipmakers”, Financial Times, accessed June 14, 2011.
  25. ^ Press Release, ATIC, accessed Juned 14, 2011.
  26. ^ “Green chip start-up gets $48 million in funding”, CNET, accessed June 14, 2011.
  27. ^ “Abu Dhabi: High-tech mecca or mirage?”, AllItWares, accessed June 14, 2011.
  28. ^ “Masdar Institute – Fast Facts” Archived 2012-02-20 at the Wayback Machine, Masdar Institute, accessed June 14, 2011.
  29. ^ "Semiconductor Research Corporation and Advanced Technology Investment Company Chart Course for Semiconductor Research in Abu Dhabi", Nanowerk, November 11th, 2010, accessed June 12, 2011.
  30. ^ "Abu Dhabi’s ATIC Investing in Chip Plant, Sees Acquisitions", “Bloomberg”, May 18, 2011, accessed June 12, 2011.
  31. ^ “A future built on silicon”, “Arab News”, accessed June 14, 2011.
  32. ^ “ATIC to raise Globalfoundries stake”, “The National”, accessed June 14, 2011.
  33. ^ a b "Advanced Technology Investment Company (ATIC) to become Mubadala Technology". www.mubadala.com. 2014-05-01. Retrieved 2020-11-20.
  34. ^ "The National", accessed October 28, 2013.
  35. ^ "ITP", accessed October 28, 2013.
  36. ^ “Leadership”, “ATIC”, accessed June 14, 2011.

External links[edit]

  • Mubadala Investment Company
  • ATIC official website
  • Mubadala Investment Company SWFI Profile