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FINANCIAL NEWS
Saudi Arabia to invest billions in global tech fund
16 Oct 2016
(MENAFN) Public Investment Fund took strong steps in its mission to support Saudi Vision 2030 in order to launch a strategic partnership with Soft Bank Group Corp.
Additionally, the PIF joined forces with Japanese telecom firm Soft Bank to form a tech investment fund worth USD100bn, making it one of the largest on the planet.
Moreover, Saudi Arabia’s sovereign wealth fund is predicted to put up as much as USD45bn of the money, with Soft Bank throwing in at least USD25bn.
Meanwhile, the new fund reflects the application of PIF’s new plan after restructuring and expanding its financial might from USD160b to USD2tr.
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