Japan's SBI to launch first Saudi Arabia biotech fund

Up to $100m fund to promote growth sector under Saudi Vision 2030

20241118N saudi vision 2030 REU

Saudi Arabia considers biotech as a key sector for diversifying its economy under the Saudi Vision 2030 initiative. © Reuters

MASAYUKI SHIKATA, Nikkei staff writer

TOKYO -- Japan's SBI Holdings will debut its first biotechnology-focused investment in Saudi Arabia as early as the first half of 2025 as part of an overseas push.

The financial services group has reached an agreement with Saudi Arabia's Ministry of Investment and other parties on the fund, which is expected to manage $50 million to $100 million in assets.

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