Abu Dhabi – Mubasher: Mubadala Investment Company on Thursday announced the signing of an agreement with CDC International Capital, a subsidiary of Caisse des Dépôts Group, and Bpifrance, jointly-owned by Caisse des Dépôts and the French government.
The EUR 1 billion deal aims to develop an integrated platform for private and direct investment in France and includes two components, according to a company statement.
The first component will seek to boost the volume and scope of the existing co-investment Partnership (FEF), which was concluded by CDC International Capital and Mubadala in 2014 to promote the development of promising French enterprises, Mubadala revealed.
The UAE-based company stated that the second component includes investing up to EUR 500 million in technology and innovation fields in France through direct investments and venture capital funds, and is projected to focus on rapid growing technology sectors in the European country.
“We want to build on our successful partnership by expanding our investments in areas we believe hold long-term commercial potential for both France and the United Arab Emirates,” said Waleed Al Mokarrab Al Muhairi, Mubadala’s deputy group CEO.
“We are delighted to have reached this agreement with Mubadala and Bpifrance that strengthens and widens the scope of our investment partnership,” Laurent Vigier CDC International Capital’s CEO commented.