Government house
The government of Saudi Arabia has joined forces with Japan-based conglomerate SoftBank to launch the $100bn SoftBank Vision Fund. Saudi Arabia is expected to provide, over the next five years, up to $45bn through its sovereign wealth Public Investment Fund (PIF), under the terms of a non-binding memorandum of understanding. SoftBank, meanwhile, hopes to inject a total of $25bn over that period. The remaining $30bn in capital will come from “large global investors”, who remain undisclosed for now.
The SoftBank…
