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

Saudi's PIF to invest $45bn in new Softbank fund
Saudi Arabia's PIF plans to invest in Softbank's new tech fund.
Published: 6 October 2018 - 1:11 p.m.
By: Mark Sutton

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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