Mubadala extends co-investment with HDBI

Mubadala Investment Company and Hellenic Development Bank of Investments (HDBI) on Monday signed an agreement to extend their €400 million co-investment partnership to include venture capital (VC) and private equity (PE) investments in top performing Greek funds that are focused on high growth sectors.

The Mubadala-HDBI co-investment partnership was first established in 2018 with an initial focus on minority direct PE investments in Greek businesses. The deal was signed during Greek Prime Minister Kyriakos Mitsotakis’s official state visit to the UAE

Additionally, Mubadala and HDBI closed their first co-investment under the newly extended agreement to Athens-based VentureFriends Fund III, an early-stage tech investor.

Waleed Al Mokarrab Al Muhairi, Mubadala’s deputy Group CEO, said: “Over the years, the economy of Greece has not only demonstrated its resilience, but it also now presents some very exciting growth opportunities. Our extended partnership with HDBI will enable Mubadala to accelerate its investments in Greece, capitalizing on an increasingly active innovation and entrepreneurial landscape across multiple sectors. We look forward to our continued collaboration with HDBI in the months and years ahead as we collectively seek to tap into Greece’s burgeoning innovation driven sectors.”

Dr Haris Lambropoulos, HDBI’s President, said: “Our collaboration with Mubadala is based on mutual trust and understanding. The extension of our strategic co-investment partnership is the beginning of a new era, in full alignment with the investment principles and values of our respective organizations. It also provides a unique opportunity to further promote our bilateral relations, leveraging the dynamism of the Greek economy and its resilience in the face of global challenges and uncertainties.”

— business@khaleejtimes.com