• Saudi Arabia’s NEOM has launched its investment arm, the NEOM Investment Fund (NIF), aiming to support the buildout and development of NEOM’s 14 priority sectors.
• As part of its inauguration, NIF has announced new investments in companies including Regent, Pony.AI, Boom Technology, BlueNalu, and Animoca Brands.
• The NIF has invested $100 million in the US-based autonomous driving solutions provider Pony.ai, while launching a joint venture to develop, manufacture, and deliver autonomous driving services, advanced vehicles, and smart vehicle infrastructure in NEOM and key markets in Mena. 
• NIF has also participated in the Series A round of the US seaglider manufacturer REGENT as part of a multi-year partnership to shape the future of water mobility in the region. REGENT will establish a regional R&D and training hub to support NEOM’s efforts to lead and localise electric seaglider technology.

Press release:

NEOM today announced the launch of its strategic investment arm, the NEOM Investment Fund (NIF). The NIF is a wholly owned subsidiary of NEOM and will help build out and develop NEOM's 14 priority sectors. It will also create jobs in NEOM and deliver long-term value. 

NIF will invest globally through mergers and acquisitions and venture capital in technology startups, with a clear focus on pioneering growth companies and next-generation industries.  NIF will also develop joint ventures and partnerships with large multinationals, institutional investors, and innovators within NEOM. 

As part of its inauguration, NIF is announcing new investments in companies including Regent, Pony.AI, Boom Technology, BlueNalu and Animoca Brands, details of which will be shared in the coming days. These investments, which add to those NIF has led to date, illustrate its role in working alongside NEOM sectors to support their strategies for growth, enabling new technologies, establishing businesses, and creating a thriving economy in NEOM.

Nadhmi Al-Nasr, CEO of NEOM, said: “The vision of NEOM is to address global challenges that redefine livability, conservation, and business. As NEOM’s strategic investment subsidiary, NIF will play a critical role in converting NEOM’s vision into reality. NIF will enable NEOM to sustain its contribution to realising the ambitions of the Kingdom over the long term, cementing its position as a key driver of economic diversification and job creation.”

Majid Mufti, CEO of NEOM Investment Fund, said: “The NIF strategy is designed to align NEOM’s development objectives with those of innovators and institutional investors, de-risking opportunities for them to participate in creating core global growth businesses and a thriving economy in NEOM. To date, NIF has invested in several technology companies within the 14 priority sectors of NEOM that will accelerate technologies critical to the NEOM project and have a major impact on the future of living and sustainability. Replicated over time, this approach will position NEOM as a model for sustainable economic development.”

As a catalyst for change, NIF actively seeks deep partnerships with likeminded investors and bold entrepreneurs working on the world’s most complex problems, in line with NEOM’s vision. It aspires to create regional and global champion companies across NEOM’s 14 economic sectors by investing in commercially viable projects and ‘moonshot’ ideas enabled by cutting-edge technologies. To accelerate the change, NIF will focus on developing investment opportunities for the private sector to participate in and will directly invest to unlock solutions that will be piloted and scaled up in NEOM and eventually exported to the world.

As part of its mandate, NIF will also assume the role of portfolio manager for NEOM’s sector assets and companies. This role will safeguard returns for the shareholder and investors through portfolio synergies and will underpin NEOM’s long-term financial sustainability.