2023/11/1
NEOM has announced the launch of the NEOM InvestmentFund NIF, focusing on NEOM's 14 priority sectors, aiming to enhance their value and create more job opportunities. Serving as NEOM's strategic investment arm, the fund will expand its global portfolio through mergers and investments in emerging tech companies and foster partnerships within NEOM with international entities.
Diverse Investments by NEOM's Fund revealed its investments in several companies, including:
- Regent, for electric seaplanes
- Pony.AI, for autonomous vehicles
- Boom Technology, specializing in supersonic passenger aircraft
- BlueNalu, specializing in cell-cultured seafood products
- Animoca Brands, specializing in digital assets, centralized web technologies, and the metaverse
NEOM's Vision and Fund Objectives
Engineer Nazmi Al-Nasr emphasized the importance of the fund in achieving NEOM's vision, contributing to the Kingdom's ambitions, economic diversification, and job creation. Majid Mufti, CEO of NIF, highlighted the alignment of the fund's strategy with NEOM's objectives and the goals of partners, aiming for a prosperous and sustainable economy in NEOM.
Investment Strategy and Partnerships
The fund has invested in tech companies within NEOM's core sectors, focusing on sustainability and future living standards. It seeks to establish partnerships with investors and partners to drive change and innovate solutions in line with NEOM's vision, aspiring to establish leading companies regionally and globally.
This investment fund joins the diverse investment funds in Saudi Arabia that support quality startups with innovative ideas. The fund will also manage NEOM's assets, ensuring long-term financial sustainability.