UAE - Mubasher: Abu Dhabi-based Mubadala Investment Company plans to expand its investments in Asia, especially in the technology sector, the company's CEO Khaldoon Al Mubarak announced on Monday.
The announcement was made during the Bloomberg Invest Global virtual conference weeks after the company purchased a $1.2 billion stake in the Indian digital company, Jio Platforms, controlled by Indian billionaire Mukesh Ambani.
Al Mubarak said that the $232 billion Abu Dhabi wealth fund seeks to grow its portfolio in India, China, and Southeast Asia, namely in the fields of the med-tech space, Artificial Intelligence (AI), life sciences, and agribusiness.
As part of its objectives to invest in technology, Mubadala made a $15 billion commitment to SoftBank Vision Fund to launch a number of tech funds in the US and Europe.
Meanwhile, the company's CEO referred that Mubadala does not seek to reduce its exposure in the US, but will expand its portfolio in the US.
