PIF Invests $400 Million in Magic Leap
The Public Investment Fund (PIF) announced that it has participated in
the Series D equity funding by Magic Leap, Inc. (Magic Leap), investing
$400 million, joining a number of prominent global investors in the
Magic Leap is developing world-leading technologies around
head-mounted virtual retinal displays and expected to launch its first
generation product in 2018.
This investment forms part of PIF’s International Investments and is
in line with PIF’s strategy to enable the creation of new sectors and
opportunities that will shape the future global economy. Furthermore,
the transaction supports PIF’s mandate of building strong global
investment partnerships, and developing the Kingdom of Saudi Arabia into
a global investment powerhouse.
PIF’s International Investments portfolio aims to consolidate and
strengthen the Fund’s performance as active contributor in the
international economy and partner of choice for international investment