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Saudi Arabia's PIF bets on startups with Hambro Perks Investment


RIYADH: Saudi Arabia’s sovereign wealth fund is backing a Middle East venture-capital fund run by Hambro Perks Ltd., joining the trend for state investors in the region to put money into early-stage companies, according to Al Arabiya citing Bloomberg.
The Public Investment Fund (PIF) of Saudi Arabia is an anchor investor in the $50 million Oryx Fund, which will target fintech, health and education technology startups across the Middle East and North Africa (MENA), according to Dominic Perks, co-founder of London-based venture firm Hambro Perks.
Oryx is the first Western venture-capital fund to get backing from PIF, which made the investment through its Jada unit, according to a statement from Hambro Perks. Other investors include Saudi Venture Capital Co. and Riyadh Valley Co. ....

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