Abu Dhabi funds invest $150 million in messaging app Telegram

Abu Dhabi sovereign wealth fund Mubadala Investment Company and Abu Dhabi Catalyst Partners have invested a combined $150 million in messaging app Telegram, a joint statement said on Tuesday.

Topics

Telegram


Reuters  | 
DUBAI 

Telegram Messenger

DUBAI (Reuters) – Abu Dhabi sovereign wealth fund Mubadala Investment Company and Abu Dhabi Catalyst Partners have invested a combined $150 million in messaging app Telegram, a joint statement said on Tuesday.

Mubadala invested $75 million in 5-year pre-IPO convertible bonds, while Abu Dhabi Catalyst Partners invested a further $75 million.

(Reporting by Alexander Cornwell, editing by Louise Heavens)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Tue, March 23 2021. 14:31 IST