Saudi Wealth Fund Launches $24 Billion Tech Fund

A $24 billion investment fund aimed at the Middle East's tech industry has been formed by a sovereign wealth fund under the direction of Saudi Crown Prince Mohammed Bin Salman.

The fund, which will be managed by the Public Investment Fund (PIF), is intended to support the area's expanding telecom and technology sectors.

The PIF will establish five distinct investment entities in Bahrain, Oman, Sudan, Jordan, and Iraq as part of the fund rollout.

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