The Saudi Public Investment Fund is preparing to invest $ 45 billion in the Softbank Technical Fund
Following the large investments made by the Saudi Public Investment Fund known as the Sovereign Wealth Fund, the Fund is preparing to put another large amount as a new investment, which will inject $ 45 billion into SoftBank’s technical investment fund known as the SoftBank Vision Fund.
The SoftBank is the largest private institution built to invest in technology. The Sovereign Wealth Fund (SWF) was the main supporter when it was launched in 2016, which is encouraging the fund to make large amounts of money with it, especially as it will facilitate future management and project control.
The move is a continuation of the Kingdom’s 2030 vision, which has been very successful. Crown Prince Mohammed bin Salman has already told Bloomberg magazine that the Kingdom intends to raise its investments in the coming period to provide additional income from various resources.
This is the second investment of $ 45 billion. The fund has already made a similar amount over the previous period. As planned, this investment will help the Saudi Investment Fund to increase its assets to $ 600 billion by 2020, an increase of about $ 200 billion from its current value.
SoftBank Vision Fund manages most of the investments of the Saudi sovereign fund and has been responsible for the investments of Flipkart, Lucid Motors, Uber and Tesla.