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Abu Dhabi-based Mubadala Capital, the asset management subsidiary of Mubadala Investment Company part of the UAE sovereign wealth fund, has officially closed its third Private Equity Fund- MIC Capital Partners III. The fund aggregated a total of $1.6Bn in capital commitments from new and existing investors, including leading pension plans, endowments, insurance plans, government institutions, family offices, and private equity firms across North America, Europe, the Middle East, and Asia.
Based on our full suite of H1 2021 country and industry reports, Mubadala Capital has managed to invest in startups leading in their respective industries across Emerging Venture Markets. With a 20% growth in funding invested in E-commerce startups across MENA, Turkey & Pakistan in the first half of the year, Mubadala Capital was a key investor in EVM’s top E-commerce funding round with Sary’s Series B fundraise. Similarly, Mubadala Capital backed Getir, Turkey’s unicorn driving the 1729% funding growth of the Delivery & Logistics industry in the first half of this year.
Mubadala Capital manages $9Bn of assets in third-party managed funds across its private equity, public equities, venture capital, and South American businesses. Fund III which will be focused on direct investments in Europe and North America has surpassed its initial capital target, as Adib Mattar, Head of Private Equity at Mubadala Capital highlighted "We began our Private Equity investment practice 13 years ago. The closing of Fund III represents a major milestone for the Private Equity team and for Mubadala Capital."
MIC Capital III will be focused on sector-curious direct investments in North America and Europe across media, sports and entertainment, consumer and food services, financial services, and industrials & business services. To date, Fund III consists of about $1.4 Bn of investments across nine assets including REEF Technology, a proximity-as-a-service platform, and YES Network, a regional sports network in the New York and Tri-State area. Mubadala’s third Private Equity fund formed multiple new partnerships as Adib Matter concluded "To have the opportunity to partner with a group of leading institutional investors is both a privilege for us and a meaningful vote of confidence by the market in our ability to originate compelling new investment opportunities, partner with leading management teams and create value across our portfolio.”
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