NEOM launches investment fund to support building priority sectors

Logo of NEOM

NEOM announced today, Oct. 24, the launch of its wholly-owned strategic investment arm, NEOM Investment Fund (NIF), aimed to support the buildout and development of NEOM’s 14 priority sectors and deliver long-term value, while enabling job creation in the new city, according to a statement.

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

NIF will invest globally through mergers and acquisitions (M&A) and venture capital in emerging technology startups, mainly focusing on fast-growing businesses and next-generation industries. The fund will also develop joint ventures and partnerships with heavyweight international companies, institutional investors and innovators within NEOM.

Following its launch, NIF announced new investments in several companies, including Pony.ai, Regent Co., Boom Technology, BlueNalu and Animoca Brands Corporation Ltd., the details of which will be shared in the coming days.

These investments, which add to those NIF has led to date, illustrate the fund’s essential role in complementing NEOM sectors to support its growth strategies, enabling new technologies, establishing businesses, and creating a thriving economy in NEOM, the statement added.

As a catalyst for change, NIF actively seeks deep partnerships with like-minded investors, partners, and businessmen. It has so far invested in multiple tech companies within NEOM's 14 priority sectors, which will accelerate the development of the technologies necessary for the new city.

The fund aspires to set up many companies regionally and globally and benefit from them through the NEOM sectors, by making bold investments in ambitious commercial projects that are equipped with the latest and applicable technologies.

To accelerate the change, NIF will focus on developing investment opportunities to boost private-sector participation and will roll out direct investments to unlock solutions that would be piloted and scaled-up in NEOM, before being exported to the world.