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SoftBank invests in Mubadala's new US$400m European tech fund: FT

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Japan's SoftBank Group has provided nearly half the cash for the new US$400 million fund by Abu Dhabi's state-owned Mubadala Investment that aims to back European startups, the Financial Times reported on Monday.

[BENGALURU] Japan's SoftBank Group has provided nearly half the cash for the new US$400 million fund by Abu Dhabi's state-owned Mubadala Investment that aims to back European startups, the Financial Times reported on Monday.

Mubadala, which is a big investor in SoftBank's Vision Fund, will use the fund to invest between US$5 million and US$30 million in European startups, FT reported, citing people with direct knowledge of the matter.

A company executive said last week Mubadala Ventures was planning to launch a technology-focused, US$400 million European fund this year.

The European venture fund, which has already made a few undisclosed investments, will be run from a new office in London, the FT said.

SoftBank did not immediately respond to a request seeking comment, while Mubadala was not immediately reachable for comment.

REUTERS

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