LONDON: Saudi Arabia’s sovereign wealth fund is backing a Middle East venture-capital fund run by Hambro Perks Ltd, joining the trend for state investors in the region to put money into early-stage companies.
The Public Investment Fund of Saudi Arabia is an anchor investor in the US$50mil Oryx Fund, which will target fintech, health and education technology startups across the Middle East and North Africa, according to Dominic Perks, co-founder of London-based venture firm Hambro Perks. He declined to say how much the Saudi fund, also known as PIF, has invested.
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