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

NEOM Tech & Digital, the technology subsidiary of the "Neom" new city construction project led by Saudi Crown Prince Salman Jr., announced the establishment of the NEOM Investment Fund (NIF) to support the construction and development of NEOM's 14 priority areas. NIF will invest in technology start-ups globally through M&A 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 investment in Animoca Brands, Pony.ai, Regent, Boom Technology, BlueNalu and other companies. According to previous news, Saudi Arabia will invest more than US$6.4 billion in high-tech, further consolidating Saudi Arabia’s 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.