Saudi Wealth Fund Launches $24 Billion Technology Fund

ChainCatcher news, led by Saudi Crown Prince Mohammed Bin Salman, has launched a $24 billion investment fund focused on the technology sector in the Middle East. The fund is managed by the Public Investment Fund (PIF) and aims to promote the region's thriving technology and telecommunications industries. As part of the fund's launch, PIF will establish five independent investment companies in Bahrain, Oman, Sudan, Jordan, and Iraq. According to PIF, the fund will increase regional investment opportunities for its portfolio companies and the private sector in Saudi Arabia. (Source link)