The Public Investment Fund (PIF) has announced the establishment of the Fund of Funds, a new investment vehicle designed to provide small and medium-sized enterprises (SMEs) with access to capital by investing in venture capital and private equity funds. The Fund of Funds will also support the creation of a thriving private equity and venture capital ecosystem in the Kingdom. The Fund will empower the private sector and increase its contribution to national GDP by encouraging venture capital and private equity investments. With a capital of SAR4 billion, the Fund is aligned with the Saudi Vision 2030 objective of facilitating private sector growth and supporting the development of SMEs in creating job opportunities, promoting innovation, and increasing exports as per the commercial by-laws, to support and encourage investment in SMEs. The Fund of Funds vital role will be reflected in its contributions to national GDP, estimated to be around SAR400 million by the end of 2020, and the provision of more than 2,600 jobs. Its contribution to GDP is expected to increase to SAR8.6 billion by the end of 2027, creating around 58,000 jobs. The PIF is expected to be one of the most capable global funds to diversify investment tools, and therefore achieve profits and contribute to attaining financial resources to the country’s economy. The Saudi PIF was established in 1971 to provide financing support for projects of strategic significance to the national economy before it expanded its role to include other aspects.