Saudi wealth fund launches $24bn tech fund
- Date: 28-Oct-2022
- Source: Finextra
- Sector:Financial Services
- Country:Saudi Arabia
Saudi wealth fund launches $24bn tech fund
The fund, to be managed by the Public Investment Fund (PIF) is designed to boost the region's burgeoning tech and telecoms industries.
As part of the fund launch, the PIF will establish five separate investment firms in Bahrain, Oman, Sudan, Jordan and Iraq.
According to the PIF, the fund will boost regional investment opportunities for its portfolio companies as well as Saudi Arabia's private sector.
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