Mubadala Chief Executive Officer Khaldoon Al Mubarak. Photo credit: Mubadala

Mubadala, an Abu Dhabi sovereign wealth fund, is planning to make more tech investments on the heels of investing $1.2 billion investment in Indian telecom outfit Reliance Jio, as made known by its Chief Executive Officer Khaldoon Al Mubarak in a virtual interview with Bloomberg. “We need to be much more exposed to technology in all its facets. We’re on the right track.” Al Mubarak said in a statement. He touted technology as “the place to go” for further investments.

According to Al Mubarak, Mubadala is scouting India, China, and Southeast Asia for potential investments. Mubadala is one of the world’s biggest sovereign wealth funds, with more than $200 billion under management, enough cash to make some big technology investments. Mubadala invests money on behalf of the government of Abu Dhabi. This month, Mubadala joined a host of other tech-focused investors, private equity firms, and sovereign wealth funds alike to pour billions of dollars into Reliance Jio, the telecom outfit of Reliance Industries, India’s biggest conglomerate. Altogether, Reliance closed about $15 billion in funding for its telecom unit in the span of a few months.

Earlier this month, Saeed Al Mazrouei, the deputy chief financial officer of Mubadala, said the sovereign wealth fund was ready to use its burgeoning cash pile to buy more stocks and make other equity investments possibly in the US.