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Abu Dhabi's Mubadala sets up VC shop in Silicon Valley

Photo: Dan Kitwood / Getty Images

Mubadala, an Abu Dhabi-based sovereign wealth fund with $125 billion in assets under management, is opening its first U.S. office in San Francisco as it enters the venture capital business. It also is launching a $400 million venture fund in partnership with Japan's SoftBank Group, and a $200 million VC fund-of-funds.

Why it matters: Sovereign wealth funds are increasing their attention to high-growth tech startups in Silicon Valley, with some like Singapore's Temasek and the Qatar Investment Authority also opening West Coast outposts. "It's more than just setting up an office — it's a real committed and genuine intent to be an active member of this community," Ibrahim Ajami, head of Mubadala's VC arm, tells Axios.