Key Takeaways
- • Mubadala Capital is in early discussions to invest in a new venture capital fund being set up by departing investment executive Ibrahim Ajami, according to Bloomberg.
- • Ajami, who oversees venture investments at Mubadala Capital, is reportedly planning a major fundraising effort in the first quarter of 2027 for his new firm, Noha Capital.
- • Noha Capital is expected to operate from offices in Dubai and San Francisco; target fund size and investment strategy have not been disclosed.
- • Ajami leaves after two decades with the Abu Dhabi-based group, during which he oversaw technology investments across the US and Europe and commitments to external managers.
- • The report comes as Mubadala Capital expands its alternative investment platform, with Apollo Global Management agreeing earlier this week to acquire a minority stake in the firm.
Summary
Mubadala Capital is in early discussions to invest in a new venture capital fund being established by Ibrahim Ajami, a departing investment executive who oversees venture investments at the Abu Dhabi-based group, according to a report by Bloomberg. Ajami is preparing to launch an independent investment firm after two decades with Mubadala Capital.
The new firm, Noha Capital, is expected to operate from offices in Dubai and San Francisco. Ajami is reportedly planning a major fundraising effort in the first quarter of 2027. Details of the fund's target size and investment strategy have yet to be disclosed, so the scale of any Mubadala commitment remains unconfirmed.
During his tenure, Ajami oversaw investments in technology businesses across the US and Europe, alongside commitments to external investment managers. Mubadala Capital's portfolio includes autonomous driving company Waymo and artificial intelligence infrastructure provider Crusoe.
The potential commitment comes as Mubadala Capital continues to expand its alternative investment platform. Earlier this week, Apollo Global Management agreed to acquire a minority stake in the firm, which strengthens its relationship with the Abu Dhabi-backed investment manager.
The new firm, Noha Capital, is expected to operate from offices in Dubai and San Francisco. Ajami is reportedly planning a major fundraising effort in the first quarter of 2027. Details of the fund's target size and investment strategy have yet to be disclosed, so the scale of any Mubadala commitment remains unconfirmed.
During his tenure, Ajami oversaw investments in technology businesses across the US and Europe, alongside commitments to external investment managers. Mubadala Capital's portfolio includes autonomous driving company Waymo and artificial intelligence infrastructure provider Crusoe.
The potential commitment comes as Mubadala Capital continues to expand its alternative investment platform. Earlier this week, Apollo Global Management agreed to acquire a minority stake in the firm, which strengthens its relationship with the Abu Dhabi-backed investment manager.
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