Mubadala Investment Company

Established in 1984, the International Petroleum Investment Company (IPIC) was created to advance Abu Dhabi’s natural petroleum wealth for the development of the emirate. Mubadala Development Company followed in 2002 to further diversify the economy. In June 2016, it was announced that Mubadala Development Company would merge with the International Petroleum Investment Company.{{cite news|date=29 June 2016|title=Fast FT|url=https://next.ft.com/content/03f7ac73-aedc-36f0-934d-b54e64cc13af|access-date=7 July 2016|newspaper=Financial Times|url-access=subscription}}{{cite web|last1=French|first1=David|last2=Tolba|first2=Ahmed|last3=Aboudi|first3=Sam|date=29 June 2016|title=Abu Dhabi government orders.merging of Mubadala And IPIC - state news agency|url=https://www.reuters.com/article/emirates-ma-mubadala-ipic-uae-idUSD5N17U015|access-date=7 July 2016|website=Reuters}}{{cite news|last1=Kerr|first1=Simeon|date=29 June 2016|title=Abu Dhabi to merge sovereign wealth funds Ipic and Mubadala|newspaper=Financial Times|url=https://next.ft.com/content/99337866-3dcf-11e6-8716-a4a71e8140b0|access-date=7 July 2016|language=en|url-access=subscription}} In 2017, ownership of both MDC and IPIC was transferred to a newly created parent company, Mubadala Investment Company.{{Cite web|date=January 22, 2017|title=Mubadala and IPIC Officially Merge|url=https://www.swfinstitute.org/news/52785/mubadala-and-ipic-officially-merge|website=Sovereign Wealth Fund Institute}} The company is a wholly-owned investment vehicle of the government of Abu Dhabi, and Sheikh Mansour bin Zayed Al Nahyan, vice-president and deputy prime minister of the United Arab Emirates, is chairman of the company.{{cite web|url=http://mubadala.ae/about/history/ |title=The Mubadala Story | Mubadala Development Company | Abu Dhabi, United Arab Emirates |publisher=Mubadala.ae |access-date=2012-08-13}}{{Cite journal|last=Ennis|first=Crystal A.|date=2018|title=Reading entrepreneurial power in small Gulf states: Qatar and the UAE|url=http://journals.sagepub.com/doi/10.1177/0020702018809980|journal=International Journal|language=en|volume=73|issue=4|pages=573–595|doi=10.1177/0020702018809980|issn=0020-7020|hdl=1887/71834|s2cid=150220133|hdl-access=free}}{{Cite web |last1=Fahaam |first1=Tariq Al |last2=Saleh |first2=Amjad |last3=WAM |title=Mubadala board reconstituted with Mansour bin Zayed as Chairman |url=https://www.zawya.com/en/business/mubadala-board-reconstituted-with-mansour-bin-zayed-as-chairman-e9vasl0s |access-date=2023-09-17 |website=www.zawya.com |language=en}}

Mubadala has invested in logistics software startup Turvo,{{Cite news|url=https://www.wsj.com/articles/abu-dhabi-state-fund-leads-60-million-funding-in-logistics-software-startup-1541674801|title=Abu Dhabi State Fund Leads $60 Million Funding in Logistics Software Startup|last=Phillips|first=Erica E.|work=WSJ|access-date=2018-11-09|language=en-US}} Alphabet-owned self-driving technology company Waymo,{{Cite web|url=https://www.institutionalassetmanager.co.uk/2020/03/03/283538/mubadala-invests-autonomous-self-driving-technology-company-waymo|title=Mubadala invests in autonomous, self-driving technology company Waymo|date=2020-03-03|website=www.institutionalassetmanager.co.uk|language=en|access-date=2020-03-05}} Reliance Jio Platforms,{{Cite web|title=Investors Flock to Pick Up Stake in Ambani's Jio Platforms {{!}} TopNews|url=https://topnews.in/investors-flock-pick-stake-ambani-s-jio-platforms-2411440|access-date=2020-06-07|website=topnews.in}} UK life sciences company Envision,{{Cite web|url=https://gulfnews.com/business/markets/mubadala-other-investors-acquire-majority-stake-in-uk-life-sciences-company-envision-1.1604579777407|title=Mubadala, other investors acquire majority stake in UK life sciences company Envision|date=5 November 2020 }} and Telegram.{{cite web |url=https://techcrunch.com/2021/03/23/telegram-raises-150m-from-mubadala-and-abu-dhabi-cp-via-pre-ipo-convertible-bonds/ |title=Telegram raises $150M from Mubadala and Abu Dhabi CP via pre-IPO convertible bonds |author=Natasha Lomas |date=23 March 2021 |publisher=TechCrunch |access-date=23 March 2021}} Mubadala is a parent company of GlobalFoundries, a semiconductor foundry company.[http://www.thenational.ae/business/industry-insights/technology/atic-chip-producer-takes-big-steps-in-us "The National"], accessed October 28, 2013.

Mubadala owns stakes in numerous companies, including a 7.5 percent share in the Carlyle Group.{{cite news|url=https://www.washingtonpost.com/wp-dyn/content/article/2008/02/14/AR2008021403573.html|last=Heath|first=Thomas|title=Pair of Proposals Take Aim at Carlyle Group|newspaper=Washington Post|date=15 February 2008|access-date=22 September 2008}}

In 2007 Mubadala announced an initial investment in AMD.{{Cite web |title=AMD announces 622m investment by Mubadala Development Company {{!}} Mubadala |url=https://www.mubadala.com/en/news/amd-announces-622m-investment-mubadala-development-company |access-date=2024-04-01 |website=www.mubadala.com |language=en}} As of 2017 Mubadala had a stake of 12.9 percent in the chipmaker.{{Cite web |title=Abu Dhabi's Mubadala sells 34.9 million shares in U.S. chipmaker AMD |url=https://www.reuters.com/article/us-emirates-mubadala-industry-amd/abu-dhabis-mubadala-sells-34-9-million-shares-in-u-s-chipmaker-amd-idINKCN1PU0BQ/ |access-date=1 April 2024 |website=Reuters}} In 2019 Mubadala sold its entire stake in AMD.{{Cite web |date= |title=MIC_2019_Annual_Review_Brochure.pdf |url=https://www.ifswf.org/sites/default/files/annual-reports/MIC_2019_Annual_Review_Brochure.pdf |access-date=1 April 2024 |website=www.ifswf.org}}

In November 2020, Mubadala transferred ownership of two information technology companies it previously owned, Injazat and Khazna, to artificial intelligence company, G42, and took a stake in G42.{{Cite web |last=Khan |first=Sarmad |date=2020-11-02 |title=UAE's Mubadala takes stake in Abu Dhabi AI firm Group 42 |url=https://www.thenationalnews.com/business/technology/uae-s-mubadala-takes-stake-in-abu-dhabi-ai-firm-group-42-1.1104021 |access-date=2024-04-01 |website=The National |language=en}}

In 2021, Mubadala purchased a 2.6% stake in En+ Group, a manufacturer of green aluminum, from Polina Yumasheva, the former wife of Russian businessman Oleg Deripaska.{{Cite web|date=2021-06-23|title=Abu Dhabi's Mubadala buys 2.6% of Russia's En+ group|url=https://www.reuters.com/world/middle-east/abu-dhabis-mubadala-buys-26-russias-en-group-2021-06-23/|access-date=2021-09-15|website=Reuters|language=en}} The same year, Mubadala purchased MetrôRio, the company that holds the operations for the Rio de Janeiro metro, from Invepar. In 2016, Mubadala became the biggest external shareholder at Investcorp, after acquiring 20% stakes in the Bahraini firm.{{Cite news |last=Parasie |first=Nicolas |date=2016-07-28 |title=Investcorp Sells 20% Stake to Abu Dhabi-Based Fund Mubadala |language=en |work=The Wall Street Journal |url=https://www.wsj.com/articles/investcorp-sells-20-stake-to-abu-dhabi-based-fund-mubadala-1469703297|access-date=2023-08-31}} In 2023, a former UK minister, Gerry Grimstone was criticized for conducting and not declaring 13 meetings with Mubadala and Khaldoon al-Mubarak, after acquiring the role as an adviser and the chair of planned climate fund at Investcorp. In March 2021, Grimstone finalized a deal between the UK and Mubadala, allowing it to oversee investment of around £10 billion in the UK from the UAE. A senior research officer at Transparency International UK, Rose Whiffen said if a minister is working for a firm and meeting its shareholder several times while in office, it should be declared or assessed before approval.

A unit of the company, Mubadala Capital, invested €50 million in the Novalpina Capital private equity fund of €1 billion, which bought the NSO Group in 2019. Reports revealed that the UAE targeted human rights activists, journalists, and Princess Haya using the Pegasus spyware, during the same time. Mubadala Capital got a seat on Novalpina’s committee of largest investors.{{cite news|url=https://www.ft.com/content/09a289f1-1670-4b18-9ee2-5d9081e1773d|title=Abu Dhabi state funds were used to buy Israeli spyware group NSO|accessdate=1 April 2022|website=The Financial Times|date=April 2022 }}

In May 2022, Mubadala Investment Company signed a preliminary agreement with French utility Engie for the development of a digital platform to charge electric vehicles in the UAE and across the Middle East. The two companies would also explore areas related to sustainable mobility.{{Cite web |date=2022-05-10 |title=Mubadala teams up with France's Engie to develop electric vehicle charging platform in UAE |url=https://www.thenationalnews.com/business/technology/2022/05/10/mubadala-teams-up-with-frances-engie-to-develop-ev-charging-platform-in-the-uae/ |access-date=2022-05-11 |website=The National |language=en}}

In May 2023, Mubadala agreed to buy a majority stake in a New York–based Fortress Investment Group from the SoftBank Group. The $3 billion takeover was intended to be closed in the first quarter of 2024. However, the deal that would give Mubadala 70% stakes in Fortress was being scrutinized by the U.S. national security officers. The deal, which raised concerns for the US over the UAE's ties with China, was being closely reviewed by the Committee on Foreign Investment in the US (Cfius).{{Cite news |last1=Massoudi |first1=Arash |last2=Sevastopulo |first2=Demetri |date=2023-07-24 |title= US security officials scrutinise Abu Dhabi's $3bn Fortress takeover |language=en |work=Financial Times |url=https://www.ft.com/content/a8f3b524-ff45-4935-96da-cc08bd32e138 |access-date=2023-07-30}}{{Cite news |last1=Kaur |first1=Gursimran |last2=Sayegh |first2=Hadeel El |date=2023-07-24 |title= US security officials scrutinise Mubadala's $3 bln Fortress takeover |language=en |work=Reuters |url=https://www.reuters.com/markets/deals/us-security-officials-scrutinise-mubadalas-3-bln-fortress-takeover-ft-2023-07-25/ |access-date=2023-07-30}}

In September 2024, Turkish Competition Authority confirmed that Mubadala applied to acquire Getir in entirety.{{cite news|title=Abu Dhabi's Mubadala applies to take control of Türkiye's Getir |url=https://www.dailysabah.com/business/tech/abu-dhabis-mubadala-applies-to-take-control-of-turkiyes-getir |newspaper=Daily Sabah |date=6 September 2024}} In June 2024, Getir founders, Nazim Salur and Serkan Borancili, opposed Mubadala’s restructuring plan that would separate profitable local grocery delivery operations with noncore businesses. Under the proposed plan, Mubadala was to acquire grocery delivery operations in exchange for $250 million investment. However, in January 2025, Salur alleged Mubadala of an “illegal coup” and vowed to take legal action against the Emirati firm. He claimed that Mubadala attempted to take over all shares of the founders, and “intentionally delayed” transferring units to them. Getir’s founders also stated that Mubadala attempted to back off from the deal at the end of 2024. They appealed to the Enterprise Chamber of the Amsterdam Court of Appeal, and said to take a legal action in Turkey and the UK as well. Mubadala was planning to propose an alternative plan, which it said was already approved by Getir’s independent directors. But Salur expressed his intent to “continue fighting” the restructuring plan.{{cite news|title=Getir founder vows to sue over Mubadala's bid for Turkish firm |url=https://www.reuters.com/world/middle-east/mubadala-proposal-turkeys-getir-prompts-founders-plan-legal-move-2025-01-15/ |newspaper=Reuters |date=15 January 2025}}{{cite news|title=Turkey's Getir and Abu Dhabi fund Mubadala still at odds over restructuring |url=https://www.reuters.com/business/retail-consumer/turkeys-getir-abu-dhabi-fund-mubadala-still-odds-over-restructuring-2025-01-19/ |newspaper=Reuters |date=19 January 2025}} On 30 January 2025, Salur removed Getir’s CEO Batuhan Gultakan from his position without giving specific reasons. Sources revealed that the move was taken due to Gultakan’s full support towards Mubadala.{{cite news|title=Getir CEO says he has been removed as power struggle continues |url=https://www.reuters.com/business/retail-consumer/getir-ceo-says-he-has-been-removed-power-struggle-continues-2025-02-03/ |newspaper=Reuters |date=3 February 2025}}

Mubadala operates through four investment platforms of significant scale.{{cite web |title=Investment Platforms |url=https://www.mubadala.com|website=www.mubadala.com |publisher=Mubadala |language=en}}

• Direct Investments platform
• UAE Investments platform
• Disruptive Investments platform
• Real Estate & Infrastructure Investments platform

{{infobox company

| name = Mubadala Technology

| logo =

| successor = Advanced Technology Investment Company (ATIC)

| foundation = {{start date|2014}}

| founder =

| defunct =

| location_city = Abu Dhabi

| location_country = UAE

| key_people = Ibrahim Ajami (CEO)

| industry =

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| aum =

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| parent = Mubadala Investment Company

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The company's Advanced Technology Investment Company (ATIC) in 2008, is an investment company in the high-technology sector.[http://www.atic.ae/about-atic/ "About Us"], ATIC, accessed June 12, 2011. ATIC owns the semiconductor foundry companies GlobalFoundries, and Chartered Semiconductor Manufacturing (which later merged with GlobalFoundries).[http://www.atic.ae/media-center/archive/November2009/10 “Press Release”], ATIC, accessed June 14, 2011.[http://www.atic.ae/in-the-news/2009-09-07-Financial-Times-Abu-Dhabi-to-Take-on-Taiwans-Chipmakers.pdf “Abu Dhabi to take on Taiwan’s Chipmakers”], Financial Times, accessed June 14, 2011. ATIC has invested in Calxeda, a start-up company for producing ARM architecture–based computers for the server market.[http://news.cnet.com/8301-13924_3-20013683-64.html “Green chip start-up gets $48 million in funding”], CNET, accessed June 14, 2011. In 2011, ATIC announced investments of $5.5 billion to expand chip manufacturing in Singapore, Dresden, and New York.[https://www.bloomberg.com/news/2011-05-18/abu-dhabi-s-atic-investing-in-chip-plant-sees-acquisitions-1-.html "Abu Dhabi’s ATIC Investing in Chip Plant, Sees Acquisitions"], Bloomberg, May 18, 2011, accessed June 12, 2011.[http://arabnews.com/lifestyle/science_technology/article450749.ece “A future built on silicon”], Arab News, accessed June 14, 2011. It also announced a $6–$8 billion computer chip factory in Abu Dhabi for completion in 2012.[http://www.thenational.ae/business/technology/atic-to-raise-globalfoundries-stake “ATIC to raise Globalfoundries stake”], The National, accessed June 14, 2011. 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.{{Cite web|date=2014-05-01|title=Advanced Technology Investment Company (ATIC) to become Mubadala Technology|url=https://www.mubadala.com/en/news/advanced-technology-investment-company-atic-become-mubadala-technology|access-date=2020-11-20|website=www.mubadala.com|language=en}}

Mubadala Energy (formerly Mubadala Petroleum) plans to expand into liquefied natural gas, blue hydrogen, and carbon capture. Mubadala Energy works in eleven markets and employs over 500 people.{{Cite web |last=Salian |first=Neesha |date=2022-09-06 |title=Mubadala Petroleum rebrands as Mubadala Energy |url=https://gulfbusiness.com/mubadala-petroleum-rebrands-as-mubadala-energy/ |access-date=2022-09-06 |website=Gulf Business |language=en-US}}

{{Reflist|group=lower-alpha}}

{{Reflist}}

• [http://www.mubadala.com/ Mubadala Investment Company]
• [https://web.archive.org/web/20110629135234/http://www.atic.ae/ ATIC official website]
• [https://www.swfinstitute.org/profile/598cdaa60124e9fd2d05b883 Mubadala Investment Company SWFI Profile]

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Category:Financial services companies established in 2017

Category:Government-owned companies of Abu Dhabi

Category:Investment companies of the United Arab Emirates

Category:Sovereign wealth funds of Abu Dhabi

Category:Emirati companies established in 2017