Saudi NEOM Investment Fund completes new round of investment in Animoca Brands and other companies

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Cointime2023/10/25 09:00

By:Cointime

NEOM Tech Digital, a technology subsidiary of "Neom," the new city construction project led by Saudi Crown Prince Salman, announced the establishment of the NEOM Investment Fund (NIF) to support the construction and development of 14 priority areas in NEOM. NIF will invest in technology startups globally through mergers and acquisitions and venture capital, with a focus on pioneering growth companies and next-generation industries. NIF will also establish joint ventures and partnerships with large multinational companies, institutional investors, and innovators within NEOM. As part of the opening ceremony, NIF announced a new round of investments in companies such as Animoca Brands, Pony.ai, Regent, Boom Technology, and BlueNalu. Earlier news stated that Saudi Arabia will invest more than $6.4 billion in high-tech investments, further consolidating its position as the largest digital economy in the Middle East and North Africa. These investments and initiatives include a $1 billion investment in NEOM Tech Digital Company.

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