UAE-based Mubadala Capital introduces its first special purpose fund in Brazil, giving companies the revival boost needed to kickback from financial slumps and scale for healthy revenue margins.
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Mubadala Capital, the asset management subsidiary of Abu Dhabi’s Mubadala Investment Co., has raised $322 million debuting its first fund in Brazil, The Brazil Special Opportunities Fund I (BSOF I).
Mubadala Capital’s Ventures business builds on Mubadala’s 10-year track record of being an active investor in advanced technology. The Ventures platform includes a direct investment business, a fund of funds business, and the management and oversight of Mubadala’s partnership with SoftBank, including its U.S. $15Bn LP commitment to the SoftBank Vision Fund. The Brazil Special Opportunities Fund I (BSOF I) raised capital from a diverse set of global investors, including a leading public pension fund, family offices, corporates, private equity funds, and asset managers across North America, Europe, the Middle East, and Asia, the asset manager said in a statement on Monday.
As recorded in our State of Startup Funding-Emerging Venture Markets 2022, available for download, it was a wave of consolidated efforts by VC investors and public initiatives that drove funding across Emerging Venture Markets. Growing by 228% YoY, VC investment backing startups in the Middle East, Africa, Pakistan and Turkey has neared the $7Bn mark distributed over more than 1,300 deals recorded over 2021. While five of the top ten investors in Emerging Venture Markets were based outside of MEAPT, including the likes of Y Combinator, Global Founders Capital, and 500 Global, MENA-based investors were able to leave their mark on the VC dynamics, particularly in MENA. The top 5 investors backing MENA-based startups (by number of deals) were based in the region with a leading position by Saudi-based investors, the ranking includes Flat6Labs out of Egypt, OQAL Angel Investors, Sanabil 500 MENA SEED Accelerator Fund, and Impact 46 out of the KSA, and Global Ventures out of the UAE.
Access our suite of Full Year 2021 Reports covering MENA, Africa, Pakistan & Turkey. Browse our latest and pick your data focus
The newly set fund is focused on acquiring major stakes in Brazil-based startups that have healthy and scalable businesses models yet are going through legal or financial struggles. In doing so, the Fund will not only be able to save the businesses in question but also be able to support them with the growth capital and businesses network needed to scale for healthy revenue margins. The team elaborated in a statement "This strategy enables BSOF I to acquire businesses at attractive entry prices, creating a margin of safety at the closing of the transaction that reduces BSOF I’s dependency on Brazil’s economic cycles including currency depreciation while retaining the upside exposure associated with a growing economy."
Mubadala Capital manages over $10 Bn of assets in third-party managed funds across Brazil, private equity, public equities, and venture capital businesses. Across Emerging Venture Markets, Mubadala Capital has been able to spot some of the most anticipated Tech startups across sectors, participating and leading investments in the likes of Turkey-based Getir, and UAE-based Tabby, TruKKer, and Bayzat.
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