Mubadala takes stake in Luckin Coffee in $1 billion deal
Abu Dhabi sovereign wealth fund Mubadala took a minority stake in Luckin Coffee as part of a $1 billion investment. Private equity firm Centurium Capital also contributed to the deal, which will give Mubadala a significant minority stake in China’s biggest coffee chain.
Abu Dhabi sovereign wealth fund Mubadala has taken a stake in China’s Luckin Coffee as part of a $1 billion investment with private equity firm Centurium Capital. The Luckin investment gives Mubadala a significant minority stake in China’s biggest coffee chain and comes as economic ties between the two countries deepen. Mubadala says it has invested more than $20 billion in China across more than 100 deals since 2015. Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed visited Beijing in April to discuss expanding bilateral economic and diplomatic relations.
The US still accounts for 44% of Mubadala’s $385 billion of assets under management, while US tech firms remain important to the UAE’s goal of becoming a global AI leader.