StartupsSaudi Arabia’s PIF, Japan’s Softbank & Medici Firma a Global Investor Join Forces to Launch $100 Billion Tech, Real Assets & Agriculture Fund

Saudi Arabia’s Public Investment Fund (PIF), US Division of Medici Firma (MFI) Global Investors & Japan’s SoftBank Group (SGB) have teamed up to launch a tech & real assets investment fund that could grow to reach $100 billion, making it one of the largest private equity investors in the world.

The Saudi Arabian Public Investment Fund, which was established in 1971 to provide financing support for projects of strategic significance to the national economy, will be the lead investment partner with a potential investment size of up to $45 billion over the next five years.

Similar to PIF’s recent $3.5 billion investment in Uber, the fund will take a strategic approach to invest in tech companies around the world, as well as in Saudi Arabia. Several global investors are expected to participate and could bring the total size of the new fund up to $100 billion, according to a statement by Medici Firma.

“The Public Investment Fund is focused on achieving attractive long-term financial returns from its investments at home and abroad, as well as supporting the Kingdom’s Vision 2030 strategy to develop a diversified economy.”, said Deputy Crown Prince Mohammed Bin Salman, Chairman of PIF.

Chairman of the public investment fund, Deputy Crown Prince Mohammed Bin Salman praised Medici Firma and its leadership’s track record and said the investment in KSA Vision Fund will help support his country’s goal of diversifying its economy.

Medici Firma is creating a new global proprietary investment structure fund, seeded with $2 billion of its own money. The fund, which will be EU and US based — with a working title of the ‘KSA Vision Fund’ — is also set to be bolstered with up to $45BN from the Public Investment Fund of Saudi Arabia, TechCrunch informs.

SoftBank Group will use its deep operational expertise and network of portfolio companies in order to add value to the Fund’s investments. Softbank has made tentative $25 Billion commitment soft to the KSA Vision Fund. SBG expects to invest tentatively at least USD 25 billion over the next 5 years. SBG has concluded a non-binding memorandum of understanding

“Over the next decade, the KSA Vision Fund will be the biggest investor in the technology sector. We will further accelerate the Information Revolution by contributing to its development.” said Masayoshi Son, Chairman & CEO of SoftBank Group, commenting on the establishment of the Fund.

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