NEW YORK, NY, December 02, 2016 /24-7PressRelease/ -- Saudi Arabia's Public Investment Fund (PIF), US Division of Medici Firma (MFI) Global Investors & Japan's SoftBank Group (SGB) have teamed up to launch a tech & real assets investment fund that could grow to reach $100 billion, making it one of the largest private equity investors in the world.
The Saudi Arabian Public Investment Fund, which was established in 1971 to provide financing support for projects of strategic significance to the national economy, will be the lead investment partner with a potential investment size of up to $45 billion over the next five years.
Similar to PIF's recent $3.5 billion investment in Uber, the fund will take a strategic approach to invest in tech companies around the world, as well as in Saudi Arabia. Several global investors are expected to participate and could bring the total size of the new fund up to $100 billion, according to a statement by Medici Firma.
"The Public Investment Fund is focused on achieving attractive long-term financial returns from its investments at home and abroad, as well as supporting the Kingdom's Vision 2030 strategy to develop a diversified economy.", said Deputy Crown Prince Mohammed Bin Salman, Chairman of PIF.
Chairman of the public investment fund, Deputy Crown Prince Mohammed Bin Salman praised Medici Firma and its leadership's track record and said the investment in KSA Vision Fund will help support his country's goal of diversifying its economy.
Medici Firma is creating a new global proprietary investment structure fund, seeded with $2 billion of its own money. The fund, which will be EU and US based -- with a working title of the 'KSA Vision Fund' -- is also set to be bolstered with up to $45BN from the Public Investment Fund of Saudi Arabia, TechCrunch informs.
SoftBank Group will use its deep operational expertise and network of portfolio companies in order to add value to the Fund's investments. Softbank has made tentative $25 Billion commitment soft to the KSA Vision Fund. SBG expects to invest tentatively at least USD 25 billion over the next 5 years. SBG has concluded a non-binding memorandum of understanding
"Over the next decade, the KSA Vision Fund will be the biggest investor in the technology sector. We will further accelerate the Information Revolution by contributing to its development." said Masayoshi Son, Chairman & CEO of SoftBank Group, commenting on the establishment of the Fund.
About the Public Investment Fund (PIF)
The Saudi Arabian Public Investment Fund was established in 1971 to provide financing support for projects of strategic significance to the national economy, and its role has evolved to incorporate a number of different areas. These include holding and managing the government's stakes in some of Saudi Arabia's largest and most important blue chip companies.
PIF has also set up and managed a number of companies to support innovation, diversification and non-oil sector development within the Kingdom. Furthermore, the institution has been responsible for holding and managing the government's stake in bilateral and multilateral companies abroad as well as investing selectively in a range of other asset classes internationally.
PIF has gone through major restructuring, and had supervision moved from under the Ministry of Finance to the Council of Economic and Development Affairs, led by His Royal Highness Prince Mohammed Bin Salman Bin Abdulaziz, since March 2015. PIF, under the leadership of His Royal Highness, has revised its long term investment strategy to coincide with the country's Vision 2030.
About Medici Firma
Medici Firma is a global financial institution with operations in the Americas, Europe and Asia. The company has offices in major cities like Brussels, Seoul, Luxembourg, Germany, and Hong Kong. Its affiliate entities include Medici Firma Ventures and Medici Firma Investments. Medici Firma manages a full range of active and quantitative investment solutions including equity, fixed income, money markets, and alternative strategies. Medici Firma Investment strategies include; Alternative Investments, Financial Services, Infrastructure and Real Estate.
Medici Firma acts as a discretionary investor for Central Banks, Sovereign Funds and invests through its proprietary investment structures.
Medici Firma's transparent and flexible investment platform allows co-investors to gain access to opportunities across the private equity spectrum. Medici Firma is an institutional management company that governs itself with onward thinking and a mission to put allied prosperity first.
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