UAE - Mubasher: Mubadala Investment Company (Mubadala) and Abu Dhabi Catalyst Partners have invested $150 million in five-year pre-IPO convertible bonds of Telegram.
This strategic partnership aims to foster Abu Dhabi’s ecosystem of innovative and tech-enabled companies, according to a press release on Tuesday.
Mubadala’s Disruptive Investments platform and Abu Dhabi Catalyst Partners have invested $75 million each in the secure messaging application.
Meanwhile, Telegram plans to open an office in the Abu Dhabi Global Market to promote its global growth.
The Head of Mubadala’s Russia and CIS Investment Program, Faris Sohail Faris Al Mazrui, said: "The company represents a very promising investment opportunity for Mubadala and will sit well within our wider portfolio of pioneering companies looking to transform their respective industries."
Meanwhile, the CFO and COO of Abu Dhabi Catalyst Partners, James Munce, remarked: "Over the past 7 years, Telegram usage has grown from zero to 500 million monthly active users. This demonstrates the management team’s unshakeable dedication to building a platform centred around privacy and user experience."
