[ TRANSACTION RECORD ]

Public Investment Fund Investment in Magic Leap — 2024

VERIFIED VECTOR ID: 002347 · tx-322
M SOURCE NODE — FUNDER
Public Investment Fund
Finance Saudi Arabia
$590,000,000
EQUITY
25/01/2024
Q DESTINATION NODE — RECIPIENT
Magic Leap
Company United States
Amount (USD)
$590.0M
Flow Type
EQUITY
Transaction Date
25/01/2024
Primary Source
View Filing ↗
Funder Profile [ M ]
Entity Public Investment Fund
AUM 925000
HQ Location Saudi Arabia
Sector Finance
Recipient Profile [ Q ]
Entity Magic Leap
Entity Type Company
Jurisdiction United States
Intelligence Note

The Public Investment Fund of Saudi Arabia invested an additional 590 million dollars into Magic Leap, securing majority ownership of the augmented reality pioneer. This transaction supports the company’s shift toward enterprise AR solutions. The deal reflects PIF’s strategic focus on establishing the Kingdom as a global technology hub.

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Primary Forensic Source https://www.reuters.com/technology/saudis-pif-invests-another-590-mln-magic-leap-2024-01-25/
✓ SOURCE LINKED