Mubadala invests $1bn in China’s Luckin Coffee

Mubadala Investment Company has earmarked $1 billion for China’s Luckin Coffee, as the Abu Dhabi sovereign fund looks to capitalise on long-term growth opportunities in Asia’s biggest economy.

The investment will be made in collaboration with Centurium Capital, the coffee chain’s controlling shareholder.

No details were given on Mubadala’s stake following the investment. The deal is subject to regulatory conditions.

“We continue to see compelling long-term opportunities in China’s consumer sector,” said Mohamed Albadr, head of Asian private equity at Mubadala.

Mubadala’s sector knowledge, global perspective and network will support Luckin Coffee’s innovation and long-term development, said Michael Chen, a partner at Centurium Capital.

Luckin Coffee, founded in 2017, operates more than 36,000 stores globally, with almost 500 million customers as of June 2026. The company emerged from bankruptcy in 2022 after an accounting fraud, Reuters reported.

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Mubadala’s investments in China range across healthcare, advanced manufacturing, business services, sustainability and other priority sectors, the company said.

The sovereign fund’s previous investment in mobility fintech Moove raised $250 million to expand its autonomous vehicle business.

Mubadala’s assets under management reached $385 billion in 2025. It invested $39 billion last year, up from $32 billion in 2024 and its biggest annual deployment since at least 2018.