According to the official Emirates news agency, the sovereign wealth fund “Mubadala” of the government of Abu Dhabi on Tuesday disclosed that it had invested $75 million in the social networking app “Telegram.”

The Emirati investment, per WAM The Emirati investment will be made in the form of bonds convertible into shares for a period of five years ahead to the planned initial public offering in partnership with Abu Dhabi Catalyst Partners Fund, which will also invest $75 million in the platform (IPO). In collaboration with Abu Dhabi Catalyst Partners Fund, which will also invest $75 million in the platform, its investment in the business that owns the Telegram platform will take the form of bonds convertible into shares for a period of five years prior to the anticipated initial public offering (IPO).

Russian twins Pavel and Nikolai Dorov founded the “Telegram” platform, which has more than 500 million active users per month, in 2013. Its headquarters are in Dubai.

Two young Russians named Pavel and Nikola Dorov founded the platform “Telegram” in 2013, and it now has more than 500 million active users each month. His social hub is in Dubai. Faris Suhail Al Mazrouei, the director of Mubadala’s investment projects in Russia and the Community of Independent States, said, “We appreciate Pavel’s vision for the company and the dedication of his team to building a world-class organization. Pavel significantly increased Telegram’s popularity and success, making it a real competitor to the world’s largest technology companies. Telegram now has a constantly growing user base.

Pavel Dorov, the PDG and founder of Telegram, made the following statement: “We acknowledge that Abu Dhabi Catalyst Partners decided to invest $150 million in commitments through our intermediary. We are eager to form this strategic relationship in order to continue our global and regional expansion into the MENA region.”