informa
/
1 MIN READ
News

Saudi investment fund acquires stakes in Capcom and Nexon

The fund is chaired by Saudi Arabia's controversial crown prince, Mohammed Bin Salman.

Saudi Arabia's Public Investment Fund (PIF) has purchased stakes in Capcom and Nexon.

PIF is chaired by the crown prince and deputy prime minister of Saudi Arabia, Mohammed Bin Salman, who has faced allegations relating to the assassination of The Washington Post journalist Jamal Khashoggi, the torture of human rights and women's rights activists, and the formation of an authoritarian regime that facilitates oppression.

As reported by Bloomberg, PIF disclosed stakes of more than 5 percent in the two companies, both of which are headquartered in Japan.

Capcom is the studio behind popular franchises like Street Fighter and Resident Evil, while Nexon is known for its work on online titles like Maplestory.

PIF has been making inroads into the games industry for some time. In February 2021 the sovereign fund acquired $3 billion worth of stock in U.S. game companies Activision Blizzard, EA, and Take-Two Interactive.

According to the PIF website, the fund was established to drive the transformation of Saudi Arabia's economy for "positive and sustainable change."

Latest Jobs

Cryptic Studios

Remote
1.19.23
Senior Producer

Anne Arundel Community College

Arnold, MD, USA
1.30.23
Instructor/Assistant Professor, Game Art

Night School Studio

Los Angeles, CA, USA
1.09.23
Level Designer / Scripter, Games Studio
More Jobs   

CONNECT WITH US

Explore the
Subscribe to
Follow us

Game Developer Job Board

Game Developer Newsletter

@gamedevdotcom

Explore the

Game Developer Job Board

Browse open positions across the game industry or recruit new talent for your studio

Browse
Subscribe to

Game Developer Newsletter

Get daily Game Developer top stories every morning straight into your inbox

Subscribe
Follow us

@gamedevdotcom

Follow us @gamedevdotcom to stay up-to-date with the latest news & insider information about events & more