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The kingdom's sovereign wealth fund reported an AUM of 1.98 trillion riyals for 2021. The PIF said it generated a total shareholders' return of 8% and established 25 companies in 2022, and locally deployed 120 billion riyals in that year in strategic sectors. The PIF said 23% of its AUM were international investments, while 68% were local investments and the remainder were treasury. PIF is the chosen vehicle of Crown Prince Mohammed bin Salman, the kingdom's de facto ruler, to drive an economic agenda aimed at cutting reliance on oil. The fund raised $5.5 billion in February from a green bond sale, following its inaugural green bond that raised $3 billion in October.

Persons: Yasir Othman Al, Mohammed Abdullah Al Jadaan, Ahmed Aqeel Al Khateeb, Ibrahim Abdulaziz Al, Prince Mohammed bin Salman, Majid Abdullah Al Qasabi, Khalid Abdulaziz Al Falih, PIF, Ahmed Elimam, Alex Richardson Organizations: Saudi Public Investment, Saudi Finance, Tourism, Investment, Read, Saudi, Public Investment Fund, Sunday, Aramco, Sanabil Investments, Thomson Locations: Saudi, DUBAI, London , New York, Hong Kong, Saudi Aramco

Aug 1 (Reuters) - Nile, a networking startup co-founded by former Cisco Systems executives John Chambers and Pankaj Patel, has raised $175 million in a new round to fund its efforts to build a Cisco competitor, the company said. Nile, which has previously raised $125 million, did not disclose its valuation, but said it had doubled since the last round. Data from PitchBook pegged the company's valuation at $395 million in 2020. Since its technology became available last May, Nile has signed customers such as Stanford University and startup Carta. Pankaj Patel, chief executive at Nile, said the young company can challenge the incumbents by offering ease of use at lower cost and advanced security features in its network.

Persons: John Chambers, Pankaj Patel, Hewlett, Nile, Patel, Sumant, Krystal Hu, Nick Macfie Organizations: Cisco Systems, Cisco, March Capital, Sanabil Investments, Saudi Telecom Company, Liberty Global, PitchBook, Juniper Networks, Hewlett Packard, Aruba Wireless, Stanford University, Reuters, Sumant Mandal, Thomson Locations: Saudi, San Jose, NaaS, Aruba, New York

☆ Saudi Arabia Transfers Aramco Shares Worth Nearly $78 Billion to Wealth Fund
▼ + stars: | 2023-04-16 | by ( Jared Malsin | Summer Said | ) www.wsj.com time to read: 1 min

Saudi Aramco is one of the world’s most valuable companies, with a market capitalization of $1.9 trillion. Saudi Arabia has put a second 4% stake of state oil giant Saudi Aramco, worth nearly $78 billion, under the control of the country’s sovereign-wealth fund, as the kingdom leverages a year of high oil prices toward diversifying its economy. The shares are expected to be transferred to the Saudi Arabian Investment Company—known as Sanabil Investments—which is wholly owned by Saudi Arabia’s Public Investment Fund.

☆ Saudi Arabia Transfers Nearly $78 Billion of Aramco Shares to Wealth Fund
▼ + stars: | 2023-04-16 | by ( Jared Malsin | Summer Said | ) www.wsj.com time to read: 1 min

Saudi Aramco is one of the world’s most valuable companies, with a market capitalization of $1.9 trillion. Saudi Arabia has put a second 4% stake of state oil giant Saudi Aramco, valued at nearly $78 billion, under the control of the country’s sovereign-wealth fund, as the kingdom leverages a year of high oil prices toward diversifying its economy. The shares are expected to be transferred to the Saudi Arabian Investment Company—known as Sanabil Investments—which is wholly owned by Saudi Arabia’s Public Investment Fund.

☆ Saudi Aramco 4% stake transferred to PIF's Sanabil
▼ + stars: | 2023-04-16 | by ( Hadeel Al Sayegh | ) www.reuters.com time to read: 1 min

DUBAI, April 16 (Reuters) - A 4% stake in oil major Saudi Aramco (2222.SE) has been transferred from state ownership to Sanabil Investments, which is wholly owned by the Saudi Arabia's sovereign wealth fund, Crown Prince Mohammed Bin Salman said on Sunday. The state remains Aramco's biggest shareholder, owning 90.18% of the company. Riyadh-based Sanabil is an investment company that commits approximately $3 billion a year to private transactions, its website says. The transfer will solidify PIF’s strong financial position and credit rating, the crown prince's statement said of the fund that is responsible for the bulk of projects aimed at transforming the Saudi economy to reduce its reliance on oil revenue. Reporting by Hadeel Al Sayegh Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Read exclusive 13-slide pitch deck data startup Alation used to raise $123 million from investors like Databricks, Dell, and Thoma Bravo
▼ + stars: | 2022-11-02 | by ( Matthew Lynley | ) www.businessinsider.com time to read: +3 min

Data startup Alation announced it raised $123 million at a more than $1.7 billion valuation. There are also smaller companies in the data cataloging space including firms like Metaphor Data, Acryl Data, and Stemma. Data tools like Alation, however, have been able to still grow and find financing, Sangani said. "When you have to make hard choices you need good data, and that logic extends to data tools," Sangani said. Databricks and Snowflake are also co-investors in data collaboration tool Hex, $900 million machine learning startup Tecton, and $4.2 billion data juggernaut Dbt Labs.

☆ Edtech firm Classera raises $40 mln in round led by PIF's Sanabil
▼ + stars: | 2022-10-27 | by ( Yousef Saba | ) www.reuters.com time to read: +2 min

The Series A round was led by Sanabil Investments, fully owned by Saudi Arabia's sovereign Public Investment Fund (PIF). Other investors were Global Ventures, Endeavor Catalyst, 500 Global, Sukna Venture and Seedra Ventures. "The round additionally included a diverse set of investors from Silicon Valley, emerging markets, and global family offices," the company said in a statement, without naming them. "Many learning institutions, especially after the pandemic, are convinced they need the next generation of e-learning solutions," Classera co-founder and CEO Mohammad Almadani said in the statement. Sanabil said in the same statement it was "fully committed to enable Classera to further expand its reach to learners across all socio-economic backgrounds."

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