{"id":91279,"date":"2024-11-06T00:00:00","date_gmt":"2024-11-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/06\/reuters-looks-at-pifs-wager-on-homegrown-startups\/"},"modified":"2024-11-06T00:00:00","modified_gmt":"2024-11-06T00:00:00","slug":"reuters-looks-at-pifs-wager-on-homegrown-startups","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/11\/06\/reuters-looks-at-pifs-wager-on-homegrown-startups\/","title":{"rendered":"Reuters looks at PIF\u2019s wager on homegrown startups"},"content":{"rendered":"

On a morning where the conversation on Saudi in the foreign press is predominantly<\/strong> focused on Aramco\u2019s earnings, PIF\u2019s portfolio mix got some long-form commentary<\/strong> from Reuters<\/a>. The newswire notes that the Saudi Sector Development \u2014 PIF\u2019s largest and fastest growing segment \u2014 holds about 100 local firms valued at USD 251 bn as of last December, or about a third of PIF\u2019s AUM. The segment \u201cis halfway between a startup incubator and a private equity portfolio,\u201d Reuters says, with the division housing familiar names such as Riyadh Air, SURJ Sports, and Savvy Games \u2014 each of which grabbed plenty of limelight at the recently-concluded FII forum. <\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

PIF\u2019s wager:<\/strong> \u201cAssessing the current financial health of these entities is complicated by their youth, and limited disclosure,\u201d Reuters explained, adding that at least a few \u2014 Savvy Games got special mention \u2014 appear to be taking off. Nevertheless, the PIF\u2019s job is complicated by a double mandate to increase jobs and boost local spending. Moreover, and despite the considerable resources available to the state budget and PIF, there is a limit to how much capital can be invested in these homegrown startups before they are expected to become profitable.<\/p>\n","protected":false},"excerpt":{"rendered":"

The financial health of companies in that category is hard to gauge<\/p>\n","protected":false},"author":1,"featured_media":91280,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2561],"tags":[10,1151,353,229,482,3100],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-91279","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-saudi-in-the-news","tag-enterpriseam-ksa","tag-public-investment-fund-pif","tag-riyadh-air","tag-saudi-in-the-news","tag-savvy-games","tag-surj-sports-investment","wpautop","entry"],"acf":{"mongo_id":"64337474-82d0-49c6-a948-a19fcccde949","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/483.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Reuters looks at PIF\u2019s wager on homegrown startups","related_issue":[91260],"teaser":"The financial health of companies in that category is hard to gauge","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.69662205-778e-42c0-aae6-0298985a8ab8.mp3"},"yoast_head":"\nReuters looks at PIF\u2019s wager on homegrown startups - 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