LONDON (Reuters) - Abu Dhabi state fund Mubadala Investment Co has not yet decided whether to invest in SoftBank’s second large-scale tech investment fund, one of its top executives said on Tuesday.
“We are evaluating it, we will continue evaluate it,” said Ibrahim Ajami, head of ventures, at a Bloomberg conference. “I can’t answer yes or no whether we will invest in Vision Fund 2.”
SoftBank is struggling to attract investment to a second mammoth fund, with Vision Fund portfolio company WeWork pulling its initial public offering and valuations at other key investments falling, Reuters reported last week.
Mubadala invested $15 billion in SoftBank’s $100 billion Vision Fund 1, and was expected to invest in SoftBank’s Vision Fund 2 in the fourth quarter of 2019, two sources familiar with the matter told Reuters last month.
Reporting by Tom Wilson; editing by Tom Arnold