A large sovereign wealth fund in the United Arab Emirates recently invested $ 100 million in Israeli venture capital companies in the technological field, the Wall Street Journal reported this weekend, relying on stakeholders.
The fund in question is Abu Dhabi's Mubadala Investment Co, established by the regent of the Princesses of Abu Dhabi.
In fact, the de facto ruler of the UAE.
The fund has invested in five Israeli companies, about $ 20 million each.
This is a strategic investment in light of the country's desire to diversify its economic growth locomotives, which are now relying on oil.
The fund will also invest at a level that will be of corporate interest in some of the technology companies.
The paper said that this was "a fresh sign of the growing ties in the field of investment and business between the two countries, about a year and a half after the Abrahamic agreements."
It is also written that the volume of trade between the countries already stands at two billion dollars a year, compared to 250 million before the signing.
The newspaper reported that Israeli companies are investing in new offices in Dubai and Abu Dhabi, while transferring manpower to the country.
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