Saudi PIF fund invests in two video game giants

The Saudi fund PIF continues to keep the world of video games in its sights, gradually increasing its presence in gaming. The latest operation of the Public Investment Fund of Saudi Arabia concerns Capcom (the publisher and developer of series such as Resident Evil) and Nexon, Korean publisher active in the field of free-to-play games. The move involves the acquisition of 5% in each of the two shares, for a total deal of over 1 billion dollars, as reported Bloomberg.

The PIF fund and video games –

The PIF fund is certainly not new to the world of video games. From the value of $ 500 billion in totalthe fund has already got its hands on shares of Activision Blizzard (the home of Call of Duty recently acquired by Microsoft for nearly $ 70 billion), Electronic Arts and Take-Two Interactive, investing over $ 3 billion in the final quarter of 2021 alone. recently, he had been compared to possible moves in Serie A, a few weeks after closing a similar deal for Newcastle in the Premier League, but the track seems to have now cooled down.

Maneuvers in Italy –

The latest movement of the Saudi fund, however, also concerned Italy. The Savvy Gaming Group, owned by PIF, acquired the companies in January ESL Gaming and FaceIt, the latter founded by three Italians, for the creation of a company – and a platform – unique in the field of exports. Operation, the one, for $ 1.05 billion, which will be formally closed by the month of June. Another recent investment reported by GamesIndustry is related to Neom, the mega-smart city unveiled in 2017, which will build “the first triple-A video game development studio in the region” together with the MBC Group.