International Finance

Mumtalakat may invest in SoftBank Vision Fund

SoftBank, Mumtalakat, Vision Fund, Public Investment Fund, Saudi Arabia sovereign wealth fund, Mubadala Investment Company, technology
SoftBank Vision Fund is a foundation platform for disruptive innovators in the technology sector

Bahrain’s sovereign wealth fund Mumtalakat holds talk with SoftBank Group to invest in its private equity Vision Fund.

The equity fund targets the technology sector, according to Mumtalakat Chief Executive Mahmood Al Kooheji. “We’re talking to them, we haven’t made any commitment yet,” he told Reuters. “I think it’s very interesting, and a lot of people have already put a lot of tickets.”

Gulf state funds such as the Public Investment Fund, Saudi Arabia sovereign wealth fund, and Mubadala Investment Company have invested in SoftBank’s US$93bn Vision Fund.

Previously, Mumtalakat has considerably borrowed funds and is currently looking to explore possible funding options for the future. A CNBC news report reads “In 2014 the fund issued a US$600mn sukuk and raised a US$500mn loan.”

“This year we don’t need to borrow but we’re opportunistic if the conditions are good.We have maturities coming next year and the year after, and we’re always engaging with our advisers,” Kooheji said.

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