Saudi Arabia’s Neom launches its investment fund

Saudi Arabia’s Neom launches its investment fund

Saudi Arabia's visionary urban project, Neom, has introduced its strategic financial arm, known as the Neom Investment Fund (NIF). This newly established investment fund is poised to bolster the expansion and advancement of Neom's 14 priority sectors, with the aim of creating employment opportunities and establishing the foundation for Saudi Arabia's forthcoming financial epicenter.

The official launch of the Neom Investment Fund occurred on a recent Tuesday, accompanied by commitments to invest in various companie
s, including Pony.ai, Regent, Boom Technology, BlueNalu, and Animoca Brands.

 

Saudi Arabia's Public Investment Fund supporting Vision 2030

 

Neom, encompassing a vast 26,500 square kilometers, is a pioneering urban initiative driven by the Kingdom of Saudi Arabia. It is set to become a bustling financial and global trade hub, offering support to businesses operating within the country. Notably, Neom is committed to operating entirely on clean energy sources, including wind, solar, and hydrogen power.

Majid Mufti, the CEO of the Neom Investment Fund, articulated the fund's strategy: "The NIF strategy is designed to align Neom’s development objectives with those of innovators and institutional investors, de-risking opportunities for them to participate in creating core global growth businesses and a thriving economy in Neom. To date, NIF has invested in several technology companies within the 14 priority sectors of Neom that will accelerate technologies critical to the Neom project and have a major impact on the future of living and sustainability. Replicated over time, this approach will position Neom as a model for sustainable economic development."

Source: https://www.investmentmonitor.ai/