Sanabil Investments, a subsidiary fully owned by the Public Investment Fund (PIF), has proudly announced the launch of four burgeoning enterprises through its dedicated company creation platform, the Sanabil Venture Studio. This initiative, skillfully managed in partnership with the Switzerland-based Stryber, signifies a robust investment in the technological sector.
During the initial year of the studio, which commenced operations in 2023, Sanabil invested an impressive $14 million with the aim of cultivating scalable technology companies. Their focus is squarely on the PIF’s core programming in the realms of fintech, consumer goods, and the sectors of tourism and entertainment.
According to the company, the studio’s dynamic team comprises 50 professionals, including product managers, designers, and engineers, all specializing in company building. This squad is actively working within the studio’s framework. Additionally, the studio is on the lookout for more talent from Saudi Arabia and the surrounding region to join the ranks of its companies.
