Abu Dhabi: Mubadala of Abu Dhabi, together with KKR, invested in CoolIT

The Mubadala Investment Company of Abu Dhabi disclosed earlier this year that it had invested in liquid cooling company CoolIT. In May 2023, the company invested alongside KKR in the Canadian company, with the latter acquiring the majority of the cooling business. The terms of the acquisition were not disclosed. CoolIT operates in North America, China, and Taiwan, designing liquid cooling options for data centers and desktop PCs that reduce operating costs and emission levels. 

Four funding phases raised approximately $10 million for CoolIT in the past. The Business Development Bank of Canada, nVent, Kline Hill Partners, Vistar Capital Partners, Inovia Partners, AVAC Group, and Chart Venture Partners are among the company's previous investors.

The Impact Investing team at Mubadala focuses on businesses that offer solutions to critical ecosystems or social challenges, and its strategy aligns with the Sustainable Development Goals of the United Nations. The company has made investments in Internet service provider Brightspeed, to which it gave $500 million in May 2023, Princeton Digital Group, Russian colocation firm IXcellerate, and gas-powered data center company Crusoe. Before exiting Cologix in January 2022, the firm was an investor in Cologix.