Mubadala Investment Company and private equity firm Glenwood Private Equity have announced the creation of a joint venture to invest in the technology sector. The new venture will focus on funding and developing technology companies in the Middle East and North Africa. Both companies expressed confidence in the significant potential of this region for technological innovation and growth. They plan to attract substantial capital to support startups and mature technology companies. "We see tremendous opportunities for growth in the tech sector across this region," said a Mubadala representative. Glenwood Private Equity reaffirmed its commitment to long-term investments and fostering innovation. The collaboration between these two major investors is expected to boost the development of the technology ecosystem in the region.
