Sponsored By

Saudi investment fund acquires stakes in Capcom and Nexon

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

Chris Kerr, News Editor

February 11, 2022

1 Min Read

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."

About the Author(s)

Chris Kerr

News Editor, GameDeveloper.com

Game Developer news editor Chris Kerr is an award-winning journalist and reporter with over a decade of experience in the game industry. His byline has appeared in notable print and digital publications including Edge, Stuff, Wireframe, International Business Times, and PocketGamer.biz. Throughout his career, Chris has covered major industry events including GDC, PAX Australia, Gamescom, Paris Games Week, and Develop Brighton. He has featured on the judging panel at The Develop Star Awards on multiple occasions and appeared on BBC Radio 5 Live to discuss breaking news.

Daily news, dev blogs, and stories from Game Developer straight to your inbox

You May Also Like