Abu Dhabi funds invest $150 million in messaging app Telegram




The Telegram logo is seen on a screen of a smartphone in this picture illustration

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)