Saudi Wealth Fund Invests Over $1B In Gaming Firms

    • The Public Investment Fund is taking its investments in video game companies to the next level.
    • The fund has invested more than $1 billion in gaming firms Capcom and Nexon.

The Public Investment Fund, Saudi Arabia’s sovereign wealth fund, is taking its investments in video game companies to the next level with the purchase of a combined holding worth more than $1 billion in gaming firms Capcom and Nexon.

The PIF, which has $480 billion in assets under management, disclosed it has acquired a more than 5% stake in each of the Japan-based companies. 

The fund purchased a stake in Capcom, the studio behind the “Street Fighter” franchise worth roughly $332 million, according to Friday’s share price, while its stake in online games provider Nexon is worth about $883 million.

Headed by Crown Prince Mohammed, the PIF has a growing list of gaming-related investments. 

  • The fund has 5.6 million Take-Two Interactive shares worth roughly $996 million.
  • It has 14.2 million Electronic Arts shares worth $1.9 billion.
  • The fund has 37.9 million Activision Blizzard shares worth more than $3 billion. 

The PIF has been aggressive about investing in gaming. In January, Savvy Gaming Group — fully backed by the fund — purchased esports tournament and league operators ESL and FACEIT for a combined $1.5 billion.

Staying Busy 

Earlier this week, The Asian Tour announced an increased investment by LIV Golf Investments, an investment entity backed by the PIF. To date, LIV has invested $300 million in the tour.

The PIF has also invested in McLaren, acquired the Premier League’s Newcastle, and is reportedly nearing a deal to purchase Serie A’s Inter Milan for $1 billion.