PIF

PIF is Saudi Arabia's sovereign wealth fund, which also established and backs Jada, a fund-of-funds vehicle . Per a 2023 暗涌Waves report, Jada was created to invest in innovative funds and steer Saudi Arabia's investment ecosystem toward supporting local SMEs and startups . That same year, PIF made a concrete move into Chinese venture capital when Jada came in as the anchor LP in eWTP Capital's second USD fund, a $1 billion vehicle targeting tech and energy investments slated to close in early 2024 . The fund has been described as a difficult source of capital for Chinese GPs to access compared with its Gulf peers .