SoftBank Vision Fund to unveil first investment in Saudi firm next week: CEO

Logo of SoftBank Vision Fund

SoftBank Vision Fund is on the verge of making its first investment in a Saudi company, which is likely to be announced next week, CEO Rajeev Misra told Arab News.

The fund, which currently oversees $130 billion of high-tech global investment, has created thousands of jobs through its portfolio companies in the region in many sectors such as construction, hospitality, technology etc., noted Misra.

The fund works very closely with the Public Investment Fund (PIF) and the Ministry of Investment in this respect.

There are limitless opportunities to invest across all sectors, the CEO said, adding Riyadh has ambitious plans to become the region's business hub.

Riyadh has been recognized among the top 15 most entrepreneurial cities, Misra said, expecting to attract tremendous foreign investments, including from the Vision Fund.