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Mubadala Integrates ATIC

According to the press release, “Abu Dhabi –Mubadala Development Company (Mubadala) today announced that the Advanced Technology Investment Company (ATIC) has become a wholly owned business of Mubadala. “With common executive leadership and the Government of Abu Dhabi as shareholder of both organizations, ATIC’s integration into Mubadala will further drive the creation of innovative industries for the benefit of Abu Dhabi and the UAE,” said Waleed al Muhairi, COO of Mubadala.

“The development of an advanced technology ecosystem in Abu Dhabi, anchored by the semiconductor sector, is a critical aspect of the Abu Dhabi Economic Vision 2030 framework that guides the Emirate’s development.”

Mubadala played a key role in launching ATIC in 2008 as an element of Abu Dhabi’s long-term strategy to diversify its economy through investments in high-technology sectors. In less than three years, ATIC has transformed the competitive landscape of the semiconductor manufacturing industry through the creation of GLOBALFOUNDRIES, which has emerged as one of the top three semiconductor manufacturers in the world.”

Read more: Mubadala Press Release

CIC Sells 10% Logicor Stake to Blackstone Fund

The China Investment Corporation (CIC) is selling a 10% stake of in European warehouse firm Logicor Ltd to a real estate fund managed by The Blackstone Group. Furthermore, CIC also hired Blackstone to oversee and manage Logicor’s warehouses and logistic properties portfolio.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Fintech Affirm Raises $200 Million in Series E Led By Singapore’s GIC

Affirm Inc., a financial technology firm which provides instant loans to consumers as an alternative to credit cards for their online shopping, has raised US$ 200 million in a Series E round lead by Singapore’s GIC Private Limited, with participation from Khosla Ventures, Lightspeed Venture Partners, Spark Capital, Caffeinated Capital, and Ribbit Capital. The new infusion of capital brings the San Francisco-based company’s total funding to US$ 450 million and a reported valuation of US$ 2 billion.

The company is founded by Max Levchin, a co-founder of PayPal (part of the PayPal mafia, dubbed by the tech press). Max Levchin is also an advisory board member of the Consumer Financial Protection Bureau (CFSB) in the United States.

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CHANGE: Saudi Arabia to Re-Open Movie Theaters, PIF Inks MoU with AMC

The Saudi Arabian government is ending its 35-year ban on cinemas. Next year, the government will allow cinemas to open. This watershed moment provides opportunities for entertainment companies to invest in Saudi Arabia and the surrounding region.

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