Russia's RDIF, Saudi PIF Establish Platform for Investment in Russian Technology Companies

Sputnik, 05.10.2017

MOSCOW, October 5 (Sputnik) – The Russian Direct Investment Fund said Thursday it was announcing with Saudi Arabia’s Public Investment Fund (PIF) the establishment of a Russian-Saudi platform for investment in Russian technology companies.

“The Russian Direct Investment Fund (RDIF) and the Public Investment Fund (PIF) of Saudi Arabia have announced the establishment of a Russian-Saudi platform, under which the parties will explore opportunities for PIF to invest alongside RDIF in Russian technology companies. The partners will focus on identifying attractive investment opportunities in the Russian technology sector, including in e-commerce, digital infrastructure, and big data. The total investment under this new initiative to invest in technology is targeted to be $1bn,” the statement read.