Dubai-based Vy Capital & Qatar Holding help Elon Musk to buy Twitter

By Shilpa Annie Joseph, Official Reporter
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Dubai-based investment firm Vy Capital and Qatar Holding, a subsidiary of the Gulf state’s sovereign wealth fund, have invested hundreds of millions in Twitter following billionaire Mr. Elon Musk’s purchase of the social media platform.

According to a filing on the US Securities and Exchange Commission, Qatar Holding has invested $375 million in Twitter. Qatar Holding is owned by Qatar’s sovereign wealth fund the Qatar Investment Authority.

The statement said that Vy Capital has invested $700 million in Twitter. Vy Capital is a global technology investment firm that focuses on the internet and software industry.

As per the reports, “Musk brought in 18 new investors including Binance, the world’s largest cryptocurrency platform; venture capital firm Sequoia; and Oracle CEO Larry Ellison to contribute $7.14 billion to his Twitter deal.  Musk is expected to secure the rest of the amount via loans or to dip into his own pocket.”

Saudi Arabian investor Prince Alwaleed bin Talal, who was against the buyout, also agreed to roll his $1.89 billion stake into the deal.

Among the 18 investors listed by Musk, Vy Capital is ranked the third biggest after Oracle’s Ellison, who has contributed $1 billion, and Sequoia Capital, which is providing $800 million, according to the SEC filing.

“While the new funds are expected to give investors more confidence that the deal will now close, the billionaire Tesla CEO will have to pay a $1 billion breakup fee if his financing efforts fail,” the reports say.

Recently, Mr. Musk sold $4 billion worth of shares in Tesla, after reaching a deal to buy Twitter.

Related: Elon Musk hints at charging a nomial Twitter fee for Commercial & Govt users