The smartest regions are not necessarily those with the brightest people."

In the July issue of Global Corporate Venturing, guest columnist Tatjana de Kerros said: “It is Saudi’s Public Investment Fund (PIF) you should be watching. And closely. Because ostensibly, it is launching the world’s largest venture capital firm [with its $3.5bn investment in ride-hailing service Uber].”

However, you need not have been watching too closely to see the PIF commit in the past month to the world’s largest corporate venturing fund, SoftBank Vision.

The PIF has a memorandum of understanding…