The state fund Abu Dhabi, Mubadala Investment Co and Abu Dhabi Catalyst Partners, part of Mubadala, said on Tuesday they had invested a combined $ 150 million in telegram messaging.
Mubadala has invested more than $ 75 million over five years, Telegram Pre-Starting Services (IPO), and Abu Dhabi Catalyst Partner has also invested more than $ 75 million.
“Telegram users have reached a critical level that puts them at the forefront of technology across the globe,” Senior Faris Sohail Faris al-Mazrui said in a statement.
“Telegram has been put in the right place to turn it into a leading technology company in the world.”
Launched in 2013, Telegram has over 500 million users a month, according to Abu Dhabi Catalyst Partners.
Telegram, already headquartered in the United Arab Emirates, will open an office in Abu Dhabi following a new investment, Mubadala said.
Abu Dhabi Catalyst Partners is a joint venture between Mbadala and US investment company Falcon Edge Capital.
Mubadala, who owns more than $ 230 billion, is the second largest investor in the UAE after the Abu Dhabi Investment Authority.
Both have invested in technology, and Mubadala donated $ 15 billion to SoftBank’s $ 100 billion Vision Fund in 2017.
Mubadala last year bought a 1.85% stake in the digital unit of Reliance Industries, Jio Platforms, for $ 1.2 billion.