the launch of Saudi capital investing in US deals, 2016 was record breaking on
numerous fronts. The vast majority of known 2016 Saudi VC investment went
into Uber's $3.5 billion Series G raise – in which the sole investor was Saudi
Arabia's Public Investment Fund (PIF). PIF is a $224 billion sovereign wealth
fund led by the Crown Prince, His Royal Highness Prince Mohammed bin Salman
(HRH MBS).
Massive Saudi Arabia investments into US unicorns aren't just notable due
to the size of the rounds. More significantly, the Uber, Lyft, and Snap investments
illustrate the country's departure from what Saudi Arabia knows best: oil and its
respective complements, such as plastics, manufacturing, and chemicals. The
country is also going through an ideological shift, with Crown Prince, HRH MBS,
Saudi Arabian direct investment into US startups is at an all-time high, but still follows typical VC trends of
investing large sums into proven companies.
Sources: Page, Holden. "Saudi Arabian Startup Investment Into US Startups Slows." Crunchbase News, 30
Nov. 2017,
Figure 8 Saudi Arabia VC is at an all-time high
47
Taiwan Economic Forum
Volume 15, Number 4
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