Abu Dhabi’s Mubadala Investment Company and France's national investment bank Bpifrance will jointly invest in global technology investment company Partech's latest Africa-focused venture capital fund – Partech Africa II, as it looks to build its portfolio of assets globally.
The Partech Africa II fund, which has reached a hard cap of €280 million ($304.4 million), is the largest venture capital fund dedicated to tech start-ups in Africa, the entities said in a statement on Wednesday.
The commitment by Mubadala and Bpifrance is the first investment made through their €350 million Africa co-investment partnership that was announced in June 2021.
“Africa is one of the world’s fastest growing markets for venture capital,” Andres Rodenas de la Vega, head of Mubadala’s France Investment Programme, said.
“We have developed a strong working relationship with Bpifrance through our France Investment Programme and we look forward to continuing our close collaboration on a number of investments going forward.”
The new fund aims to provide $1 million to $15 million initial tickets from Seed to Series C rounds.
As part of the Africa co-investment partnership, Mubadala and Bpifrance aim to deploy capital through fund and direct investments, with a focus on high-growth African start-ups, small and medium enterprises and mid-market companies.
Bpifrance is also an investor in Partech’s first Africa fund, which achieved a final close of €125 million in January 2019.
Launched in 2018, Partech Africa I comprises a portfolio that operates in 27 countries on the continent, across sectors such as FinTech, HealthTech, logistics and EdTech. The portfolio attracted more than 10 per cent of the VC investments in Africa in 2021 and 2022.
“We are pleased and proud not only to renew our support to Partech for this second pan-African fund that will address the continent's growing technological challenges, but [also] to do so alongside, Mubadala, another historical partner,” said Isabelle Bebear, Bpifrance’s head of European and international affairs.
Mubadala is investing across key locations and new economic sectors, aiming to boost its footprint and build its portfolio of assets globally.
“Any investment venture would be based on the attractiveness of the opportunities that would be identified in the key markets we are focused on and not on geopolitical considerations,” Khaldoon Al Mubarak, group chief executive and managing director of Mubadala, said at the Investopia conference in Abu Dhabi last month.
Mubadala is expecting capital deployments across artificial intelligence and space technology, Mr Al Mubarak said.
In February, Mubadala said it was investing in India’s Manipal Health Enterprises as part of its continued expansion in Asia’s third-largest economy.
In the same month, it also signed a $1 billion partnership with Goldman Sachs to co-invest in private credit opportunities in the Asia-Pacific region.
In December, it teamed up with Abu Dhabi's Aldar Properties and US alternative investment manager Ares Management to jointly invest $1 billion in a new European private property credit platform to tap into opportunities in the key markets of the region.
Terminator: Dark Fate
Director: Tim Miller
Starring: Arnold Schwarzenegger, Linda Hamilton, Mackenzie Davis
Rating: 3/5
The specs
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Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
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Price: From Dh330,000 (estimate)
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LA LIGA FIXTURES
Thursday (All UAE kick-off times)
Sevilla v Real Betis (midnight)
Friday
Granada v Real Betis (9.30pm)
Valencia v Levante (midnight)
Saturday
Espanyol v Alaves (4pm)
Celta Vigo v Villarreal (7pm)
Leganes v Real Valladolid (9.30pm)
Mallorca v Barcelona (midnight)
Sunday
Atletic Bilbao v Atletico Madrid (4pm)
Real Madrid v Eibar (9.30pm)
Real Sociedad v Osasuna (midnight)
UAE currency: the story behind the money in your pockets
The specs
Engine: 2.0-litre 4cyl turbo
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Match info
Uefa Champions League Group B
Tottenham Hotspur 1 (Eriksen 80')
Inter Milan 0
WandaVision
Starring: Elizabeth Olsen, Paul Bettany
Directed by: Matt Shakman
Rating: Four stars
Why are asylum seekers being housed in hotels?
The number of asylum applications in the UK has reached a new record high, driven by those illegally entering the country in small boats crossing the English Channel.
A total of 111,084 people applied for asylum in the UK in the year to June 2025, the highest number for any 12-month period since current records began in 2001.
Asylum seekers and their families can be housed in temporary accommodation while their claim is assessed.
The Home Office provides the accommodation, meaning asylum seekers cannot choose where they live.
When there is not enough housing, the Home Office can move people to hotels or large sites like former military bases.
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Spider-Man: No Way Home
Director: Jon Watts
Stars: Tom Holland, Zendaya, Jacob Batalon
Rating:*****
What is the FNC?
The Federal National Council is one of five federal authorities established by the UAE constitution. It held its first session on December 2, 1972, a year to the day after Federation.
It has 40 members, eight of whom are women. The members represent the UAE population through each of the emirates. Abu Dhabi and Dubai have eight members each, Sharjah and Ras al Khaimah six, and Ajman, Fujairah and Umm Al Quwain have four.
They bring Emirati issues to the council for debate and put those concerns to ministers summoned for questioning.
The FNC’s main functions include passing, amending or rejecting federal draft laws, discussing international treaties and agreements, and offering recommendations on general subjects raised during sessions.
Federal draft laws must first pass through the FNC for recommendations when members can amend the laws to suit the needs of citizens. The draft laws are then forwarded to the Cabinet for consideration and approval.
Since 2006, half of the members have been elected by UAE citizens to serve four-year terms and the other half are appointed by the Ruler’s Courts of the seven emirates.
In the 2015 elections, 78 of the 252 candidates were women. Women also represented 48 per cent of all voters and 67 per cent of the voters were under the age of 40.
MAIN CARD
Bantamweight 56.4kg
Abrorbek Madiminbekov v Mehdi El Jamari
Super heavyweight 94 kg
Adnan Mohammad v Mohammed Ajaraam
Lightweight 60kg
Zakaria Eljamari v Faridoon Alik Zai
Light heavyweight 81.4kg
Mahmood Amin v Taha Marrouni
Light welterweight 64.5kg
Siyovush Gulmamadov v Nouredine Samir
Light heavyweight 81.4kg
Ilyass Habibali v Haroun Baka
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Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
Uefa Champions League last 16 draw
Juventus v Tottenham Hotspur
Basel v Manchester City
Sevilla v Manchester United
Porto v Liverpool
Real Madrid v Paris Saint-Germain
Shakhtar Donetsk v Roma
Chelsea v Barcelona
Bayern Munich v Besiktas
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The specs
Engine: 4.0-litre flat-six
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Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
UAE currency: the story behind the money in your pockets
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BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
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