February 23, 2024

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Saudi Arabia wealth fund reveals investments in Founders Fund, Tiger World

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The disclosure started earlier this month with about 40 corporations together with Andreessen Horowitz, Coatue Administration, ICONIQ Capital and KKR, which was first reported by The Data.

Tiger World and Founders Fund have been added within the following weeks, together with Haun Ventures and Viking World Buyers, primarily based on a historic evaluation of the fund’s web site. The Sanabil web site additionally now hyperlinks to Sequoia Capital.

Sanabil isn’t an investor in Sequoia’s US-run enterprise or development funds, nor its individually managed associates in India and Southeast Asia, in keeping with folks conversant in the matter, who requested anonymity as the data is non-public.

Representatives for Founders Fund, Haun Ventures, Tiger World and Viking declined to remark. Spokespeople for PIF and Sequoia Capital’s China affiliate didn’t reply to requests for remark.

Sanabil doesn’t specify the dimensions or the timing of the investments, solely offering hyperlinks to corporations’ web sites to “study extra.”

The disclosed ties to blue-chip enterprise and development funds come throughout a troublesome time for the business after years of explosive beneficial properties. Tiger World marked down one among its enterprise funds, which runs $12.7 billion and started investing in 2021, by 20 per cent as of December, in keeping with an individual conversant in the matter.

PIF’s imaginative and prescient is “to be a world funding powerhouse and the world’s most impactful investor, enabling the creation of recent sectors and alternatives that may form the longer term world economic system, whereas driving the financial transformation of Saudi Arabia,” in keeping with its web site.

Yasir Al-Rumayyan, PIF’s governor, spoke briefly earlier than a whole lot of attendees to Miami Seaside final month for a two-day convention that pulls cash to the dominion in addition to these searching for to faucet its wealth.

Andreessen Horowitz co-founder Ben Horowitz praised Saudi Arabia on the occasion as a “startup nation.” He stated he plans to take a few of his portfolio firms to go to this month.

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