Saudi Arabia's sovereign wealth fund, Public Investment Fund's venture arm, Sanabil, has disclosed investments in nearly 40 US venture capital firms, including some with deep involvement in crypto, blockchain, and Web3-related investments.

Sanabil commits around $2 billion annually into multiple funding rounds to develop businesses with novel business models, and has invested in VCs like Andreessen Horowitz, Polychain Capital, and Valar Ventures.

While Sanabil has disclosed backing for crypto-friendly venture capital firms, it's unknown whether its liquid portfolio includes digital assets.