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Mubadala is Emirati, not Saudi. From the article, it seems that just the Vision Fund run by Mubadala has the backing of the Saudis
by axyjo 10y ago
Mubadala is Emirati, not Saudi. From the article, it seems that just the Vision Fund run by Mubadala has the backing of the Saudis
- JumpCrisscross 10y agoMubadala is Abu Dhabi's sovereign development company; its "mandate is to facilitate the diversification of Abu Dhabi’s economy" [1]. The SoftBank Vision Fund is "managed in the United Kingdom by a subsidiary of" SoftBank Group Corp [2]. Saudi Arabia's "Public Investment Fund was established in 1971 to provide financing support for projects of strategic significance to the national economy" [2]. It is the Saudi analog to Abu Dhabi's Mubadala. PIF is an LP in the SoftBank Vision Fund, albeit a significant and likely influential one. [1] https://en.m.wikipedia.org/wiki/Mubadala_Development_Company https://en.m.wikipedia.org/wiki/Mubadala_Development_Company [2] http://www.softbank.jp/en/corp/news/press/sb/2016/20161014_01/ http://www.softbank.jp/en/corp/news/press/sb/2016/20161014_0...