Saudi's PIF to invest $45bn in new Softbank fund

Saudi Arabia's Public Investment Fund to double stake in Softbank's tech investment funds

Tags: Public Investment FundSaudi ArabiaSoftBank Corporation
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Saudi's PIF to invest $45bn in new Softbank fund Saudi Arabia's PIF plans to invest in Softbank's new tech fund.
By  Mark Sutton Published  October 6, 2018

Saudi Arabia’s Public Investment Fund (PIF), plans to invest $45bn in a new technology fund from Softbank Group.

Crown Prince Mohammed Bin Salman, chairman of PIF, said that the fund planned to invest in a new venture from Softbank Group.

Softbank CEO Masayoshi Son has announced plans for a second $100bn Vision Fund. Saudi’s PIF is already a major investor in the first Vision Fund, and wants a leading stake in the new fund.

According to Bloomberg, the PIF wants to invest $45bn in the fund, the same amount it invested in the first fund. The money would come from the planned sale of part of SABIC and Saudi Aramco.

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