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Abu Dhabi invested $ 150 million in Telegram

Mubadala said Mubadala The Abu Dhabi Government Investment Corporation and Abu Dhabi Catalyst Partners Abu Dhabi Catalyst Partners Part-owned by Mubadala Today, Tuesday: They jointly invested $ 150 million in a company Telegram for messaging.

Mubadala invested $ 75 million in five-year convertible bonds prior to the planned IPO, while Abu Dhabi Catalyst Partners invested another $ 75 million.

This strategic partnership is expected to create new opportunities for cooperation, as well as support and strengthen the integrated system of innovation and technology companies in Abu Dhabi.

Faris Suhail Al Mazrouei, head of Mubadala’s investment program in Russia and the Commonwealth of Independent States, said: The user base of Telegram has reached a critical mass that places it among the global tech giants, Telegram. It is well positioned for its turning point into a leading global technology company.

He added: The company represents a promising investment opportunity for Mubadala, and it will be an ideal addition to our portfolio of leading companies that aim to achieve a quantum leap in its sectors. .

Telegram, along with the messaging app Signal, has seen an increase in the number of users this year amid privacy concerns with Facebook-owned WhatsApp.

Telegram was launched in 2013 and has 500 million monthly users, according to Abu Dhabi Catalyst Partners.

Mubadala said Telegram, which is headquartered in the United Arab Emirates, will open an office in Abu Dhabi after the new investment.

Abu Dhabi Catalyst Partners is a joint venture swap with US investment firm Falcon Edge Capital.

Are considered Mubadala, which manages more than $ 230 billion in assets, is the second largest government investor in the UAE after the Abu Dhabi Investment Authority.

Both have invested in technology, with Mubadala contributing $ 15 billion to SoftBank’s Vision Fund of $ 100 billion in 2017.

Last year, Mubadala bought 1.85 percent of the digital unit, the Jio Platforms of India’s Reliance Industries, for $ 1.2 billion.

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