Saudi Gazette report

RIYADH — NEOM announced the official launch of its strategic investment arm, the NEOM Investment Fund (NIF), on Tuesday.

This wholly owned subsidiary of NEOM aims to bolster the growth and development of NEOM’s 14 priority sectors, fostering long-term value creation and job opportunities within the city-state.

NIF is set to engage in global investments through Mergers and Acquisitions and venture capital, concentrating on technology startups, particularly those at the forefront of pioneering growth and next-generation industries.

The fund will also establish Joint Ventures and partnerships with major multinationals, institutional investors, and innovators operating within NEOM.

To mark its inauguration, NIF is unveiling new investments in companies such as Regent, Pony.AI, Boom Technology, BlueNalu, and Animoca Brands, with detailed information on these investments expected to be disclosed in the coming days.

These investments complement NIF's existing portfolio, showcasing its commitment to collaborating with NEOM sectors to support their growth strategies, foster new technologies, establish businesses, and cultivate a thriving economy in NEOM.

Nadhmi Al-Nasr, CEO of NEOM, emphasized the pivotal role of NIF in translating NEOM's visionary goals into reality.

Al-Nasr highlighted that NIF will play a crucial part in sustaining NEOM's contribution to the Kingdom's long-term ambitions, solidifying its position as a key driver of economic diversification and job creation.

Majid Mufti, CEO of NEOM Investment Fund, outlined the strategic approach of NIF, which aims to align NEOM's development objectives with those of innovators and institutional investors.

Mufti emphasized the de-risking of opportunities for participants, facilitating their involvement in creating globally significant growth businesses and contributing to a flourishing economy in NEOM.

NIF's current investments in technology companies within NEOM's priority sectors are seen as instrumental in accelerating critical technologies for the NEOM project, with the potential to revolutionize the future of living and sustainability.

Mufti further positioned NIF as a catalyst for change, actively seeking partnerships with investors and entrepreneurs addressing the world's most complex challenges, aligning with NEOM's overarching vision.

NIF aspires to nurture regional and global champion companies across NEOM's economic sectors by investing in commercially viable projects and groundbreaking ideas enabled by cutting-edge technologies.

As part of its mission, NIF will also take on the role of portfolio manager for NEOM's sector assets and companies, safeguarding returns for shareholders and investors through portfolio synergies.

This strategic function is expected to contribute to NEOM's long-term financial sustainability.

In pursuit of its goals, NIF will focus on developing investment opportunities for the private sector, directly investing in projects that have the potential to be piloted and scaled-up in NEOM before being exported globally.