SoftBank Invests In Mubadala's New $400 Million European Tech Fund: FT

SoftBank Invests In Mubadala's New $400 Million European Tech Fund: FT

FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato
(Reuters) - Japan’s SoftBank Group has provided nearly half the cash for the new $400 million fund by Abu Dhabi’s state-owned Mubadala Investment Co that aims to back European start-ups, the Financial Times reported on Monday.
Mubadala, which is a big investor in SoftBank’s Vision Fund, will use the fund to invest between $5 million and $30 million in European start-ups, FT reported, citing people with direct knowledge of the matter.
A company executive said last week Mubadala Ventures was planning to launch a technology-focused, $400 million European fund this year.
The European venture fund, which has already made a few undisclosed investments, will be run from a new office in London, the FT said.
SoftBank did not immediately respond to a request seeking comment, while Mubadala was not immediately reachable for comment.
Reporting by Ishita Chigilli Palli in Bengaluru; Editing by Gopakumar Warrier

Global Horseradish Peroxidase (HRP) Market : Latest Technology Innovations, Size, Growth By 2019

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Here's How Politicians And Tech Execs Are Reacting To The Surprise News Of Amazon Pulling HQ2 From New York City

Amazon's plans to put HQ2 in New York City have been called off, the final culmination of months of criticism directed at the e-commerce giant after it first announced in November that it would open a new headquarters there.
In a blog post Thursday, Amazon said it came to the decision to cancel its plans for New York City "after much deliberation," and seemingly took aim at politicians who vocally opposed HQ2.
"The commitment to build a new headquarters requires positive, collaborative relationships with state and local elected officials who will be supportive over the long-term," the blog post says. "While polls show that 70% of New Yorkers support our plans and investment, a number of state and local politicians have made it clear that they oppose our presence and will not work with us to build the type of relationships that are required to go forward with the project we and many others envisioned."
Amazon announced in November it had chosen to split its much-coveted second headquarters between two sites in New York and Arlington, Virginia.
The news was met with immediate opposition from several sides. Local residents were angry HQ2 would cause traffic to increase, rent prices in the surrounding area to skyrocket, and gentrification of the neighborhood to speed up. Players in the tech industry slammed Amazon CEO Jeff Bezos for a lack of transparency in its long 14-month long HQ2 selection process. Developer David Heinemeier Hansson even went as far as to accuse Amazon of extracting "blatant loot" from cities vying for HQ2, and called the company's actions "utterly unbecoming."
Local politicians, including Alexandria Ocasio-Cortez, were outraged at the terms of the deal struck between Gov. Andrew Cuomo and Amazon, which promised the company billions of dollars in tax breaks as incentive for coming to New York City. New York City Council members were upset they were kept out of the loop regarding discussions for Amazon to come to their city.
But now that plans for HQ2 have been scrapped, many of HQ2's biggest opponents are celebrating, while proponents are lashing out at Amazon.
Here are some of the reactions coming from politicians and leaders in tech in the wake of Amazon's HQ2 reversal:

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