PIF commits $1 billion to SMEs in the Kingdom

December 19, 2019 (Saudi Arabia)

Wamda has reported that Saudi Arabia’s Public Investment Fund (PIF) has committed $1 billion to a new fund of funds, which will invest in venture capital and private equity funds geared towards boosting small and medium enterprises (SMEs) in the Kingdom.

The initiative is expected to help create jobs and diversify the economy.