Saudi sovereign wealth fund, the Public Investment Forum (PIF), is set to invest more than US$1 billion to acquire a stake in Swedish video game creator Emrbacer Group.
The PIF will buy 99.9 million B shares for a total of $1.05 billion in return for an 8% share in the company.
The investment will come from Savvy Gaming Group, the company established by PIF in January to front its expansion into the gaming market.
It comes just weeks after PIF bought a 5% stake in Japanese gaming giant Nintendo.
The Saudi sovereign wealth fund has also bought stakes in other gaming companies having invested in Nexon, Capcom and Koei Tecmo earlier this year, all three of which are listed in Tokyo.
And in 2020, the fund spent US$3 billion to acquire stakes in three US gaming companies – EA, Activision Blizzard and Take-Two.
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