Saudi Arabia's Public Investment Fund

The Public Investment Fund (PIF) of Saudi Arabia, established in 1971 and based in Riyadh, is one of the largest sovereign wealth funds globally, playing a pivotal role in the nation’s economic transformation. PIF focuses on sustainable investments across a diverse portfolio that includes domestic, regional, and international assets in various sectors. The fund aims to localize modern technology and stimulate economic growth by financing strategically significant projects that align with the country’s development goals. PIF is actively expanding its international presence through strategic partnerships and initiatives, contributing to the broader objectives outlined in the Vision program, which seeks to diversify the economy and enhance its global competitiveness. The fund's assets are managed by a dedicated executive team, ensuring a cohesive approach to investment and development.

Abdulmajeed Alhagbani

Senior Director

Bander Mogren

COO

49 past transactions

Masdar

Private Equity Round in 2025
Masdar is a retail and wholesale company that supplies a wide range of building and construction materials for various projects.

Hone Health

Series A in 2025
Hone Health is a men's health platform that provides personalized care through data-driven insights and licensed physician consultations. The company offers a range of services including medications for testosterone optimization, as well as treatments with clomid and anastrozole. Hone Health utilizes telemedicine and FDA-approved testing systems to monitor hormonal changes, allowing users to track their health affordably under professional medical guidance.

Saudi Re For Cooperative Reinsurance

Post in 2025
Saudi Re For Cooperative Reinsurance offers facultative and treaty solutions both on a proportional and non-proportional basis and strong underwriting expertise in engineering, property, marine, casualty, motor, retro, and life and medical. It is a joint-stock firm and a cooperative reinsurer company.

Middle East Broadcasting Center

Acquisition in 2024
MBC Group is the private free-to-air satellite broadcasting company.

Lucid Motors

Post in 2024
Lucid Motors, established in 2007, specializes in manufacturing electric vehicles (EVs). Headquartered in Menlo Park, California, with a production facility in Casa Grande, Arizona, the company aims to create innovative EVs that transcend conventional limitations of space, performance, and intelligence. Lucid Motors has strategic partnerships with battery cell suppliers Samsung SDI and LG Chem to support its EV production.

Selfridges

Secondary Market in 2024
Selfridges is a renowned chain of department stores based in London, United Kingdom, with additional locations in Birmingham, Manchester, and Trafford. Founded in 1909, the company provides a diverse range of products, including clothing, footwear, bags, accessories, beauty items, home goods, and technology, catering to men, women, and children. Its offerings extend to food, wines and spirits, and gifts, as well as jewelry and watches. In addition to its physical stores, Selfridges operates a comprehensive online retail platform, allowing customers to access both local and international products conveniently. The brand is recognized for its commitment to providing a unique shopping experience that encompasses quality and variety.

Heathrow Airport Holdings

Secondary Market in 2024
Heathrow Airport Holdings operates the UK's only hub airport, facilitating travel for approximately 70 million passengers annually. With around 190,000 travelers passing through its terminals each day, Heathrow connects to 90 different countries and serves 86 airlines, including major carriers such as British Airways and Virgin Atlantic. Positioned at the heart of the UK's economy and adjacent to London, one of the world’s most dynamic cities, Heathrow plays a crucial role in supporting global trade and air travel. The company focuses on providing safe and efficient passenger experiences, utilizing innovations such as contactless travel solutions and ultraviolet cleaning robots to ensure cleanliness and safety for both travelers and staff.

Simplified Financial Solutions Company

Seed Round in 2024
Simplified Financial Solutions Company offers startups and SMEs financial management solutions including the ability to issue virtual and physical corporate cards, manage spending and automate expense reporting.

Magic Leap

Debt Financing in 2024
Magic Leap is an American startup specializing in Augmented Reality (AR) technology. The company develops proprietary wearable hardware that merges digital imagery with the real world, creating immersive AR experiences indistinguishable from reality. Their innovative Dynamic Digitized Lightfield Signal generates computer-generated 3D images that harmonize with human senses, enabling users to interact with digital devices in a visually cinematic manner. Magic Leap aims to redefine how users access screens and visualize data by combining inherent visual ability with mobile computing technology.

Saudia Technic

Private Equity Round in 2023
Saudia Technic is a full-service MRO organization that offers key aviation maintenance, repair and overhaul segments (MRO), including line, base, components and engines.

Tamara

Series C in 2023
Tamara is a prominent shopping and payments platform based in Riyadh, Saudi Arabia, and serves the GCC region. Founded in September 2020 by Abdulmajeed Alsukhan and his partners, the company aims to revolutionize shopping, payment, and banking experiences. With a workforce of over 350 employees, Tamara operates additional offices in the UAE, Egypt, Germany, and Vietnam. The platform empowers merchants by providing flexible payment solutions, including installment options, through its application programming interfaces and plugins. This functionality enhances customer experiences and boosts sales for merchants. Tamara has established a robust customer base of 6 million and collaborates with over 15,000 partner merchants, which include both leading global brands and local small and medium enterprises. The company has successfully raised significant funding, highlighting its strong market presence and growth potential.

Heathrow Airport Holdings

Private Equity Round in 2023
Heathrow Airport Holdings operates the UK's only hub airport, facilitating travel for approximately 70 million passengers annually. With around 190,000 travelers passing through its terminals each day, Heathrow connects to 90 different countries and serves 86 airlines, including major carriers such as British Airways and Virgin Atlantic. Positioned at the heart of the UK's economy and adjacent to London, one of the world’s most dynamic cities, Heathrow plays a crucial role in supporting global trade and air travel. The company focuses on providing safe and efficient passenger experiences, utilizing innovations such as contactless travel solutions and ultraviolet cleaning robots to ensure cleanliness and safety for both travelers and staff.

Saudi Iron & Steel Co.(Hadeed)

Acquisition in 2023
Saudi Iron & Steel Co. (Hadeed) is a Saudi iron and steel firm that produces steel rebar, wire rod, hot rolled coils, cold rolled coils, galvanized cold, and color-coated coils.

Aston Martin Lagonda Global Holdings

Post in 2023
Aston Martin is a luxury automotive manufacturer based in Warwickshire, United Kingdom, specializing in the design, engineering, and production of high-performance sports cars. The company operates through a network of dealers, offering a range of models that exemplify its commitment to craftsmanship and innovation. Aston Martin's activities encompass the entire automotive lifecycle, including the design, development, manufacture, marketing, and servicing of vehicles. Additionally, the company provides consulting services and sells parts, all conducted under the Aston Martin brand. With a singular focus on the automotive segment, Aston Martin continues to uphold its reputation for luxury and performance in the global market.

Vale

Post in 2023
Vale is a prominent global mining company headquartered in Brazil, recognized as the world's largest producer of iron ore and iron ore pellets. Operating in over 30 countries, Vale employs more than 195,000 people, including long-term contractors. In addition to its leadership in iron ore, Vale is the second-largest producer of nickel and also engages in the extraction of copper, coal, manganese, ferroalloys, fertilizers, cobalt, and platinum group metals. The company has strategically refocused its operations by divesting non-core assets such as its fertilizer, coal, and steel divisions, thereby concentrating on its primary sectors of iron ore, nickel, and copper. The bulk materials division, primarily driven by iron ore and pellets, significantly contributes to its earnings, while the base metals division encompasses nickel and copper production. Vale is also in the process of selling a minority stake in its base metals business, marking a potential shift in its strategic focus for the future.

Tamimi Markets

Private Equity Round in 2023
Tamimi Markets is one of the fastest-growing supermarket chains in Saudi Arabia, dedicated to transforming the grocery shopping experience. The company provides a comprehensive retail platform that features an extensive selection of fresh produce and premium products. By focusing on high-quality groceries and personalized services, Tamimi Markets caters to discerning consumers who seek convenience and exceptional customer service. This commitment to quality and customer satisfaction has positioned Tamimi Markets as a leader in the grocery retail sector.

Lucid Motors

Post in 2023
Lucid Motors, established in 2007, specializes in manufacturing electric vehicles (EVs). Headquartered in Menlo Park, California, with a production facility in Casa Grande, Arizona, the company aims to create innovative EVs that transcend conventional limitations of space, performance, and intelligence. Lucid Motors has strategic partnerships with battery cell suppliers Samsung SDI and LG Chem to support its EV production.

Fixtuur

Post in 2023
Fixtuur, established in 2013, is a technology company specializing in Visual Commerce. It develops a platform that enhances online shopping experiences for furniture and home decor products by offering 3D visualization, product configuration, and augmented reality features. This enables consumers to explore products in various colors, sizes, and materials, providing them with confidence in their purchasing decisions. The company is headquartered in Boca Raton, Florida, and is backed by DigitalBridge Group, a global alternative asset management firm focusing on digital infrastructure investments.

SpaceX

Grant in 2023
SpaceX, officially known as Space Exploration Technologies, is a space transportation company founded in 2002 by Elon Musk and headquartered in Hawthorne, California. The company specializes in the design, manufacture, and launch of advanced rockets and spacecraft, including notable vehicles such as Falcon Heavy, Dragon, and Starship. SpaceX develops a range of technologies including crew and cargo capsules, rocket engines, and avionics, alongside guidance and control software. A key focus of SpaceX is the creation of partially reusable launch vehicles, such as Falcon 1 and Falcon 9, which aim to reduce the costs associated with space travel. By enabling the transport of cargo, humans, and payloads into space, SpaceX seeks to advance the capabilities and affordability of space exploration and travel.

Nintendo Japan

Post in 2023
Nintendo Japan is a manufacturer of home leisure equipment.

Kakao Entertainment

Private Equity Round in 2023
Kakao Entertainment is a South Korean entertainment and media company formed through the merger of KakaoPage and Kakao M. It boasts a diverse portfolio that encompasses 50 subsidiaries and affiliates, covering all areas of the entertainment industry. Kakao Entertainment specializes in producing original content and operates a global platform network through KakaoPage, while Kakao M brings expertise in music, television series, films, and performances, representing some of Korea's top creative talent. The company also develops entertainment-based applications for mobile devices, offering a range of content that includes webtoons, web novels, music, dramas, and movies, catering to a multilingual audience and enhancing the digital media experience for its users.

Saudi Tabreed

Private Equity Round in 2022
Saudi Tabreed is a provider of district cooling services headquartered in Al Khobar, Saudi Arabia. The company specializes in the production and distribution of chilled water, which is delivered from a central facility to multiple buildings through an extensive network of pipes for air conditioning purposes. Saudi Tabreed develops, invests in, and maintains district cooling schemes on a build-operate-own basis, focusing on delivering reliable and cost-effective cooling solutions. Its services cater to a variety of sectors, including airports, government buildings, and significant real estate developments, particularly in urban projects.

Lucid Motors

Post in 2022
Lucid Motors, established in 2007, specializes in manufacturing electric vehicles (EVs). Headquartered in Menlo Park, California, with a production facility in Casa Grande, Arizona, the company aims to create innovative EVs that transcend conventional limitations of space, performance, and intelligence. Lucid Motors has strategic partnerships with battery cell suppliers Samsung SDI and LG Chem to support its EV production.

Aston Martin Lagonda Global Holdings

Post in 2022
Aston Martin is a luxury automotive manufacturer based in Warwickshire, United Kingdom, specializing in the design, engineering, and production of high-performance sports cars. The company operates through a network of dealers, offering a range of models that exemplify its commitment to craftsmanship and innovation. Aston Martin's activities encompass the entire automotive lifecycle, including the design, development, manufacture, marketing, and servicing of vehicles. Additionally, the company provides consulting services and sells parts, all conducted under the Aston Martin brand. With a singular focus on the automotive segment, Aston Martin continues to uphold its reputation for luxury and performance in the global market.

Almosafer

Private Equity Round in 2022
Almosafer is an online travel platform that specializes in providing comprehensive booking services for hotels, flights, chalets, and holiday packages. Catering to the needs of travelers in and out of the region, Almosafer has established partnerships with various airlines and hotels, allowing it to offer a wide range of travel options directly through its website and mobile applications. The platform not only facilitates seamless booking experiences but also provides users with valuable deals and tips for securing affordable travel arrangements. Almosafer positions itself as a one-stop shop for all travel-related needs, enhancing convenience for its customers.

Aman Resorts

Private Equity Round in 2022
Aman Resorts is a luxury hotel and destination management company known for its intimate and discreet guest experiences. The brand operates small resorts, hotels, and villas situated in beautiful natural locations, ensuring exclusivity and privacy for its guests. Each property features a limited number of rooms and offers a range of services that include accommodations, dining, spa facilities, tours, and access to cultural activities. Aman’s philosophy emphasizes creating sanctuaries that transcend conventional luxury, as exemplified by Aman New York, which uniquely integrates urban living with exclusive features such as private swimming pools and expansive outdoor spaces. The company also facilitates rentals and bookings through its online portal, enhancing accessibility to its distinguished offerings.

McLaren Group

Venture Round in 2022
McLaren Group, established in 1963, is a British multinational company headquartered in Woking, Surrey. It operates three core businesses: McLaren Racing, which competes in Formula 1 and IndyCar; McLaren Automotive, producing hand-built, lightweight supercars; and McLaren Applied, delivering performance advantages through data analytics and technology to various industries. The group is renowned for its innovation, technological excellence, and commitment to sustainability, exporting over 90% of its supercars. In 2019, McLaren Group's revenues reached £1,486.1m, reflecting an 18% year-on-year increase. Additionally, McLaren is investing in UK-based research and development, with a new £50m composites facility in Yorkshire. During the COVID-19 pandemic, McLaren leveraged its expertise to support the production of ventilators for the UK's National Health Service. The group has been recognized for its sustainability efforts, being the first F1 team to achieve the Carbon Trust Standard and the FIA Sustainability Accreditation Award at a three-star level.

Capital Bank Group

Private Equity Round in 2022
Capital Bank Group, founded in 1995 and based in Amman, Jordan, is a prominent financial institution offering a wide range of commercial and investment banking services tailored for both individual and corporate clients. The bank operates through several segments, including Retail Banking, Corporate Banking, Corporate Finance, and Treasury. Its services encompass current and savings accounts, personal and corporate loans, trade finance, and various credit facilities. Additionally, Capital Bank provides brokerage services, treasury management, and remittance solutions, along with online and SMS banking capabilities. Through its subsidiary, Capital Investments, the bank also engages in asset management and securities brokerage. Moreover, Capital Bank has a significant presence in the Iraqi market via its controlling stake in the National Bank of Iraq, reinforcing its position in the region. The institution primarily generates revenue from its Corporate Banking segment, which includes a variety of banking services for corporate clients.

Kingdom Holding Company

Post in 2022
Kingdom Holding Company, founded in 1979 and based in Riyadh, Saudi Arabia, is a prominent international investment firm led by HRH Prince Alwaleed bin Talal. The company has established a diverse portfolio, investing in sectors such as aviation, banking, financial services, digital services, e-commerce, education, healthcare, hotel management, and petrochemicals. Kingdom Holding Company is recognized for its strategic focus on high-performance companies and leading brands, including notable entities like Apple, Citigroup, and Walt Disney. The firm adopts a long-term investment approach, aiming to extract value from undervalued or underperforming assets while leveraging Prince Alwaleed’s extensive experience and international network.

Nintendo Japan

Post in 2022
Nintendo Japan is a manufacturer of home leisure equipment.

NCSoft

Post in 2022
NCSoft is a leading digital entertainment company based in Seongnam, South Korea, specializing in online, video, and mobile game development. Founded in 1997, NCSoft has established itself as a prominent publisher of massively multiplayer online role-playing games (MMORPGs) such as Lineage, Aion, and Guild Wars, along with titles like City of Heroes and Blade and Soul. The company operates globally, with subsidiaries and game studios in various regions, including the United States, Taiwan, China, Japan, and the United Kingdom. In addition to its extensive portfolio of MMORPGs, NCSoft is expanding into the mobile gaming sector, diversifying its offerings to include casual online games and strategy titles. With a workforce of over 4,000 employees, NCSoft continues to be a significant player in the gaming industry.

Nexon

Post in 2022
Nexon is a leading entertainment software company that specializes in the development of free-to-play online games. Founded in 1995 with the launch of The Kingdom of the Winds, the company has played a pivotal role in shaping the massively multiplayer online game (MMO) genre. Nexon offers a diverse portfolio of engaging games, including popular titles such as MapleStory and Dungeon&Fighter for PC, as well as mobile games like HIT and DomiNations. The company's games are accessible in approximately 200 countries, with a significant portion of its revenue generated from China, followed by Korea and Japan. While the PC gaming segment constitutes the majority of Nexon's revenue, the mobile gaming segment is also growing. Through its innovative approach to game development and service, Nexon continues to attract a global audience and maintain its leadership position in the interactive entertainment market.

D360 Bank

Venture Round in 2022
D360 Bank is a digital bank that operates primarily through its mobile application. It offers a range of financial services, including secure and user-friendly banking solutions, to its customers.

Pagani Automobili

Private Equity Round in 2021
Pagani Automobili is a producer of carbon fiber components for hypercars. Mid-mounted V-12 DOHC engines made by mercedes-AMG benz's division power the initial model, the zonda.

ACWA Power

Corporate Round in 2020
ACWA Power International is a company specializing in the development, investment, co-ownership, and operation of power generation and desalinated water production facilities. Founded in 2004 and headquartered in Riyadh, Saudi Arabia, it manages a diverse portfolio that includes thermal, solar photovoltaic, solar concentrated solar power, and wind energy projects. Additionally, ACWA Power provides operations and maintenance services specifically for the power generation and water desalination sectors. The company has a significant regional presence, with operations in various countries, including Saudi Arabia, Oman, the United Arab Emirates, Jordan, Morocco, South Africa, Turkey, Vietnam, Mozambique, and Egypt. As a subsidiary of ACWA Holding Company, ACWA Power plays a crucial role in addressing energy and water needs across its operational territories.

Reliance Retail

Private Equity Round in 2020
Reliance Retail Limited, a subsidiary of Reliance Industries, operates a vast retail network across India, comprising neighborhood stores, supermarkets, hypermarkets, wholesale cash and carry stores, specialty stores, and online platforms. It offers a wide array of products, including fresh foods, groceries, apparel, lifestyle and home improvement items, electronics, and farm implements. With a customer-centric approach and a robust value chain from farmers to consumers, Reliance Retail aims to provide democratized access to products and services across various segments.

Reliance Jio

Private Equity Round in 2020
Reliance Jio Infocomm is a telecommunications company based in Mumbai, India, that offers a range of wireless telecom products and services, including voice, data, and messaging. The company utilizes Long-Term Evolution (LTE) technology to provide mobile and broadband services. In addition to its core offerings, Jio distributes smartphones and hotspot devices, enhancing connectivity options for consumers. Jio also invests in research and development across various fields such as blockchain, artificial intelligence, Internet of Things (IoT), data analytics, and next-generation cloud services. Its media services encompass a wide array of content, including recorded and live music, sports, television programs, movies, and events, catering to diverse entertainment needs.

Live Nation Entertainment

Post in 2020
Live Nation Entertainment is the largest live entertainment company globally, specializing in concert promotion, venue operation, and ticket sales. The company plays a pivotal role in the live music industry, promoting over 50,000 events in 2023 and attracting more than 145 million fans. With a presence in 45 countries, Live Nation owns, operates, or holds exclusive booking rights to 373 venues, making it the second-largest operator of music venues worldwide. Additionally, it generates revenue through sponsorships and advertising. Its ticketing platform, Ticketmaster, is a leading service in the industry, selling over 620 million tickets in 2023. Through its comprehensive approach to live entertainment, Live Nation serves both artists and fans, enhancing the concert experience on a global scale.

Carnival Corporation

Post in 2020
Carnival Corporation is a prominent leisure travel company headquartered in Miami, Florida, and was incorporated in 1972. It operates a diverse portfolio of global cruise line brands, including Carnival Cruise Line, Princess Cruises, Holland America Line, Seabourn, P&O Cruises (Australia), Costa Cruises, AIDA Cruises, and Cunard. The company’s cruise ships visit approximately 700 ports worldwide and provide vacation experiences across North America, Europe, Australia, and Asia. In addition to its cruise operations, Carnival Corporation owns Holland America Princess Alaska Tours, which offers tours in Alaska and the Yukon, and manages various hospitality assets such as hotels, lodges, glass-domed railcars, and motor coaches. The company primarily markets its cruises through travel agents and tour operators, ensuring accessibility for travelers seeking leisure experiences.

Elementaree

Series A in 2020
Elementaree is a Moscow-based company founded in 2014 that specializes in the distribution of food ingredients and recipe books for home cooking. The company offers a subscription service that delivers personalized food programs directly to customers' doorsteps, catering to various dietary needs and goals, such as weight loss or muscle gain. Elementaree focuses on creating unique meal plans and a diverse range of menus that are tailored to individual preferences, allowing users to explore new recipes while enjoying the convenience of home cooking. By leveraging its expertise in value chain management, Elementaree provides customized food solutions at competitive prices, ensuring a personalized experience for every customer.

CloudKitchens

Venture Round in 2019
CloudKitchens is a real estate company based in Los Angeles, California, that specializes in providing smart kitchens designed for delivery-only restaurants. Founded in 2016, the company offers a combination of infrastructure and software solutions that allow food operators to establish delivery-focused locations with minimal capital investment and reduced setup time. By focusing on the development of non-traditional business models, CloudKitchens enables food entrepreneurs to capitalize on the growing demand for delivery services, thereby opening opportunities for investors in this emerging market.

Babylon

Series C in 2019
Babylon Healthcare Services Limited is a digital health service provider that operates a subscription-based mobile application designed to enhance access to healthcare. Founded in 2013 and headquartered in London, the company also has offices in several global locations, including the United States, Canada, and Malaysia. The Babylon platform enables users to book virtual consultations with general practitioners, receive treatment advice, and obtain prescriptions. It combines artificial intelligence with medical expertise to deliver personalized health assessments and 24/7 access to healthcare professionals through phone or video calls. The app also offers features for users to ask medical questions and monitor their health, promoting proactive healthcare management. Babylon aims to make healthcare accessible and affordable for individuals worldwide, catering to health plans, enterprises, and private users through its digital care tools.

Lucid Motors

Funding Round in 2018
Lucid Motors, established in 2007, specializes in manufacturing electric vehicles (EVs). Headquartered in Menlo Park, California, with a production facility in Casa Grande, Arizona, the company aims to create innovative EVs that transcend conventional limitations of space, performance, and intelligence. Lucid Motors has strategic partnerships with battery cell suppliers Samsung SDI and LG Chem to support its EV production.

Magic Leap

Series D in 2018
Magic Leap is an American startup specializing in Augmented Reality (AR) technology. The company develops proprietary wearable hardware that merges digital imagery with the real world, creating immersive AR experiences indistinguishable from reality. Their innovative Dynamic Digitized Lightfield Signal generates computer-generated 3D images that harmonize with human senses, enabling users to interact with digital devices in a visually cinematic manner. Magic Leap aims to redefine how users access screens and visualize data by combining inherent visual ability with mobile computing technology.

Uber

Series G in 2016
Uber Technologies, Inc., established in 2009, is a global technology company that connects users with transportation and logistics services through its mobile application. It operates in over 300 cities worldwide, offering a range of services including ridesharing, food delivery, and freight transportation. Uber's core business is facilitating transportation by matching riders with drivers, providing safe, reliable, and convenient options at varying price points. Additionally, Uber Advanced Technologies Group, a subsidiary, focuses on developing self-driving car technology to enhance transportation safety and accessibility.

GLM

Venture Round in 2015
GLM Co., Ltd. is a car development and manufacturing company based in Kyoto, Japan, specializing in electric vehicles. Founded in 2010, GLM focuses on creating a low-carbon society through its innovative electric car designs. The company's vehicles are known for their customizable chassis and advanced electric vehicle systems, which integrate various motors, inverters, battery modules, and vehicle control units. This combination aims to deliver an exciting and unique driving experience for users while contributing to environmental sustainability.

PNB Housing Finance

PNB Housing Finance Limited is a housing finance company based in New Delhi, India, established in 1988. The company specializes in providing a variety of loans, including housing loans for the purchase, construction, repair, and renovation of residential and commercial properties. It also offers loans against property, loans for the purchase of residential plots, and financing for commercial spaces. PNB Housing Finance caters to different customer segments, including non-resident Indians and individuals from economically weaker sections and lower to middle-income groups through various schemes. In addition to home loans, the company provides non-home loans, such as mortgage loans for residential and commercial properties, lease rental discounting loans, and financing for real estate developers. PNB Housing Finance generates revenue primarily through interest income and fees from its diverse lending services.
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