Mubadala Capital is in early discussions to invest in a new venture capital fund being established by its departing investment executive Ibrahim Ajami, according to Private Equity Wire. Ajami is preparing to launch an independent investment firm after two decades with the Abu Dhabi-based group, according to Private Equity Wire, which attributes the report to Bloomberg.
Ajami planning a fundraising effort in Q1 2027
Ajami oversees venture investments at Mubadala Capital, according to Private Equity Wire. Ajami is reportedly planning a major fundraising effort in the first quarter of 2027, according to the same report.
Ajami’s new firm is named Noha Capital, according to Private Equity Wire. Noha Capital is expected to operate from offices in Dubai and San Francisco, according to Private Equity Wire.
Private Equity Wire reported that details of the fund’s target size have yet to be disclosed. Private Equity Wire also reported that details of the investment strategy have yet to be disclosed.
Background on Ajami’s role and prior remit at Mubadala
During his tenure at Mubadala, Ajami oversaw investments in technology businesses across the US and Europe, according to Private Equity Wire. During his time at Mubadala, Ajami also oversaw commitments to external investment managers, according to Private Equity Wire.
Mubadala Capital portfolio examples cited in report
Mubadala Capital’s portfolio includes autonomous driving company Waymo, according to Private Equity Wire. Mubadala Capital’s portfolio also includes artificial intelligence infrastructure provider Crusoe, according to Private Equity Wire.
Apollo agrees to acquire minority stake in Mubadala Capital
The potential commitment is reported as Mubadala Capital continues to expand its alternative investment platform, according to Private Equity Wire. Earlier this week, Apollo Global Management agreed to acquire a minority stake in Mubadala Capital, strengthening its relationship with the Abu Dhabi-backed investment manager, according to Private Equity Wire.
Widely known context: venture capital funds typically raise commitments from institutional investors and strategic backers. Widely known context: fund target size and investment strategy are commonly disclosed later in a fundraising process.
