Summary
Saudi Arabia's sovereign wealth fund is following its peers in Abu Dhabi and Qatar by opening an office in the U.S. tech hub of San Francisco.
Since unveiling a strategy in 2016 to transform the PIF from a sleepy domestic holding company into the world's largest sovereign fund, Saudi Arabia has made a series of bold investments, many of which have focused on technology companies.
It also made a $45 billion commitment to SoftBank Group Corp.'s $100 billion technology fund and could potentially make another $45 billion investment in its second Vision Fund, PIF Chairman Mohammad Bin Salman -- who is also Saudi Arabia's Crown Prince, announced in October.
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