The influence of Saudi investors is increasing globally
The largest sovereign fund in Saudi Arabia, the Public Investment Fund, is the engine driving the country towards achieving its economic goals, which are included in the "Vision 2030" plan.
Shrouq
The Kingdom of Saudi Arabia presents itself as an integral part of the global capital markets, pumping strong investments abroad, and establishing new strategic relationships outside its borders.
The largest sovereign fund in Saudi Arabia, the Public Investment Fund, is the engine driving the country towards achieving its economic goals, which are included in the "Vision 2030" plan.
The Public Investment Fund leads overseas investment, and aims to have half of its holdings in international assets by 2030.
At the beginning of April, the Saudi" Savvy Gaming Group", a wholly owned subsidiary of the fund, announced the $4.9 billion acquisition of California-based Scopely Inc.
The deal fits perfectly with the broader vision of diversifying the Saudi economy, particularly in the technology sector.
Increase leverage
Besides the technology sector, the 2030 Agenda has been a boon to entrepreneurship in the healthcare, infrastructure and consumer services sectors.
The acquisition of "Scobble" represents the third largest investment by a Saudi private equity firm in a foreign company, after the Public Investment Fund pumped $3.5 billion into Uber Technologies in 2016.
In addition to seeking financial returns through an increasingly diversified array of investments, Saudi investors appear to be enhancing their influence abroad by forging strategic relationships with foreign political and business leaders.
Saudi Arabia's Sanabel Investments recently disclosed its relationships with influential US-based venture capital and private equity firms, including Andreessen Horowitz, KKR, and Apollo Global Management.
In an exciting move likely aimed at increasing its global influence, Saudi Arabia's Public Investment Fund invested $2 billion in Affinity Partners, the private equity firm owned by Jared Kushner, son-in-law of former US President Donald Trump.
