UAE fund ”Mubadala” emerges as world leader... Hopes for fundraising for Korean companies = Korean media

The United Arab Emirates (UAE) has taken the title of "world's largest" from Saudi Arabia. Mubadala, one of the three largest sovereign wealth funds in the UAE, was the world's largest sovereign wealth fund last year.
The UAE government's policy is expected to allow Mubadala to provide ample capital to global companies this year as well.
According to the Global Wealth Fund (SWF), a wealth fund research institute, UA
It has been revealed that Mubadala Investment Corporation, a sovereign wealth fund of E, has the largest investment amount among all sovereign wealth funds in the world. Mubadala's investment amount last year was $29.2 billion (about 4.6 trillion yen),
This is a 67% surge from the previous year's figure of $17.5 billion (approximately 2.76 trillion yen), while the average increase in investment in sovereign wealth funds around the world last year was just 7%.
Mubadala is helping the UAE diversify its economy as it increases investments in various industries to boost non-oil's share of the country's gross domestic product (GDP).
In 2018, Mubadala expanded its investment footprint through subsidiaries such as the Abu Dhabi Investment Company (ADIC), Mubadala Capital, and MGX, a technology investor in the fields of artificial intelligence (AI) and semiconductors.
For outbound investments, Dara is focusing on the energy, petrochemical, life sciences and healthcare sectors, while for inbound investments, it is interested in smart cities, education and finance.
As Mubadala increases its investments and expands its global influence, the Saudi Arabian PIF, which topped the list in 2023, is actually cutting back on spending.
The SWF said it had invested $20 billion in the last fiscal year, down from $31.6 billion in the previous fiscal year. The PIF said it had invested $1.2 billion in the last fiscal year, down from $1.2 billion in the previous fiscal year.
This is because investments were focused on infrastructure projects in the country in order to achieve the Vision 2030 plan led by Crown Prince Bin Salman.
By contrast, 85% of Mubadala's global investments last year were made in developed markets. Local experts say the UAE is using the financial muscle of its sovereign wealth fund to become an influential player on the world stage.
"They are building relationships with governments, companies and institutions," he said, adding, "This is partly to increase revenue, but it can also be seen as a strategic move to increase their international influence."
For example, Mubadala said in December it was extending its multibillion-dollar partnership with Apollo Global Management through 2022.
Mubadala is also investing in renewable energy projects in Japan and pharmaceutical and biotechnology projects in China, demonstrating its moves to capture Asian markets.
The UAE's global investment movement is expected to continue this year, and those involved in the Korean capital market are raising their expectations.
It is expected that cooperation will become even more active. Al Mazroui, who participated in COMEUP 2024, the country's largest global startup event, last year
The Ministry of Economy's Director-General for Startups emphasized that cooperation between the two governments is becoming stronger, and that strengthening cooperation between the two countries should lead to the growth of small and medium-sized venture businesses.
In addition, President Nahyan of the United Arab Emirates (UAE), who visited South Korea last year, is planning to invest $6 billion (approximately 945 billion yen) through the National Wealth Fund.
This has raised hopes among domestic startups that they may be able to raise capital from the UAE's sovereign wealth fund.
An industry source currently active in the country said, "They are moving to the UAE with a portfolio that they had been operating in Saudi Arabia.
"There are an increasing number of venture companies setting up bases in the UAE, or operating in the UAE and expanding their business to other parts of the Middle East," he said, adding, "The UAE government is aiming to increase investment in promising companies around the world by 2030.
"As a result, it appears that various capital market participants will be able to seize opportunities locally even in the current unstable domestic situation," he said, describing the local atmosphere.