Saudi sovereign fund creates $1.07 bln “fund of funds” to back SMEs

Saudi sovereign fund creates $1.07 bln “fund of funds” to back SMEs: Reuters

Saudi Arabia’s Public Investment Fund (PIF) said on Monday it is creating a 4 billion riyal ($1.07 billion) “fund of funds” to support the growth of small and medium-sized enterprises (SMEs).

The special fund will aim to boost SMEs’ access to capital by investing in venture capital and private equity funds, according to a PIF statement.

https://www.pehub.com/2017/10/saudi-sovereign-fund-creates-1-07-bln-fund-of-funds-to-back-smes-reuters/