Abu Dhabi-headquartered Mubadala Investment Company plans to create a $400 million fund to invest in European technology companies, it announced during a tech festival in London this week.

The state-owned investor, which has more than $200 billion in assets, will manage the fund through its venture capital arm Mubadala Ventures, it said in a statement.

Japan’s SoftBank Group will participate as a strategic investor through its subsidiary SIMI US Holdings I. The companies have a history, with Mubadala Ventures also overseeing and managing Mubadala’s $15 billion commitment to the SoftBank Vision Fund.

Mubadala’s new European fund will target investments in founder-led, high-growth technology companies that have global potential. It will also work closely with early-stage investors in the U.K., as well as other European funds. Through the fund, Mubadala Ventures will also help European tech companies establish operations in Abu Dhabi, facilitating access to the Gulf and Middle Eastern markets.

“Mubadala has the global network of large assets and relationships and a partner mindset to accelerate the development of Europe’s high-growth tech companies. This strategy builds on the foundations that we built in the U.S. with our ventures efforts,” said Ibrahim Ajami, head of Mubadala Ventures, in a statement.

Mubadala Ventures also manages an early-stage venture fund focused on the U.S., where it has an office in San Francisco. Mubadala has invested in the technology sector since 2007, when it acquired a stake in Advanced Micro Devices. Since then, its portfolio in tech has grown. It now owns semiconductor manufacturer GlobalFoundries, Al Yah Satellite Company (Yahsat) and cloud computing company Injazat Data Systems, among others. It also has a stake in the telecom du.