Abu Dhabi – Mubasher: Mubadala Investment Company has signed a memorandum of understanding (MoU) with Greece’s New Economy Development Fund (Taneo) to create an AED 1.814 billion (EUR 400 million) co-investment platform.
The new platform targets compelling investment opportunities found in main sectors in the Greek economy, according to a company statement released on Wednesday.
Under the MoU, each of the two entities will contribute EUR 200 million to the new platform, Mubadala added.
“Greece and the UAE have had strong diplomatic ties for many decades and, in recent years, we have seen an increase in trade and bilateral investment between our countries,” Greece's economy and development minister Yannis Dragasakis said.
Specialised in fund of funds investments, Taneo is a principal investment firm invests in venture capital funds, the statement showed.
“The Greek economy has demonstrated its resilience in recent years and many sectors are now demonstrating robust growth,” Mubadala Group CEO Khaldoon Khalifa Al Mubarak commented.
