Mubadala Investment Company is a sovereign wealth fund wholly owned by the Government of Abu Dhabi, managing assets exceeding $300 billion. Unlike ADIA, which invests exclusively in international financial assets, Mubadala operates as Abu Dhabi’s active strategic investor — deploying capital both domestically and internationally to drive economic diversification.
Formation
Mubadala was established in its current form in 2017 through the merger of Mubadala Development Company (founded 2002) and the International Petroleum Investment Company (IPIC, founded 1984). The merger consolidated Abu Dhabi’s strategic investment activities under a single entity. Mubadala is chaired by Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi.
Investment Strategy
Mubadala operates across multiple sectors considered strategic to Abu Dhabi’s long-term economic development. Key investment verticals include technology, aerospace and defence, energy and petrochemicals, healthcare, financial services, metals and mining, and real estate infrastructure. The fund takes active positions — often controlling stakes — in its portfolio companies, distinguishing its approach from ADIA’s passive, diversified model.
Major portfolio holdings and subsidiaries include stakes in GlobalFoundries (semiconductors), Cepsa (Spanish energy), Cleveland Clinic Abu Dhabi, Masdar (clean energy), and Strata Manufacturing (aerospace composites). Mubadala is also a significant limited partner in global private equity and venture capital funds, including longstanding relationships with firms such as Silver Lake and SoftBank.
Domestic Role
Within Abu Dhabi, Mubadala functions as a catalyst for industrial development. It has established or co-developed manufacturing facilities, technology parks, healthcare institutions, and energy infrastructure. The company’s domestic investments are designed to create employment for Emirati nationals, build industrial capabilities, and reduce economic dependence on hydrocarbon exports.
Role in Vision 2030
Mubadala is a primary execution vehicle for the Abu Dhabi Economic Vision 2030. Its mandate directly addresses the vision’s first pillar — building a large, empowered private sector — by creating commercially viable enterprises across non-oil sectors. The fund’s international investments generate returns that fund domestic diversification, while its strategic portfolio creates the industrial and technological base that the vision requires for long-term sustainability.