Riyadh to invest millions in Israeli tech via Jared Kushner’s new fund — report

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Title : Riyadh to invest millions in Israeli tech via Jared Kushner’s new fund — report
Link : Riyadh to invest millions in Israeli tech via Jared Kushner’s new fund — report

Saudi Arabia is planning to allocate millions of dollars for investments in Israeli tech companies via Jared Kushner’s new private equity firm, according to a report in The Wall Street Journal which cited people familiar with the investment plan.

Kushner, the son-in-law of former US president Donald Trump and an ex-senior adviser, set up Affinity Partners late last year, raising some $3 billion in committed funding from international investors, including the Saudis.

The WSJ report said Riyadh has eyed two Israeli companies for investment, though the names of the firms were not disclosed, nor the sectors in which they operate.

The report said the investment is “the first known instance that the Saudi Public Investment Fund’s cash will be directed to Israel, a sign of the kingdom’s increasing willingness to do business with the country, even though they have no diplomatic relations.”

Last December, The New York Times reported that Affinity Partners has hired some 20 people, and plans to focus on US-based investments as well as those in the Middle East. The report said the $450 billion Saudi Public Investment Fund was negotiating with Kushner over what could prove to be a sizable investment in Affinity Partners, according to two sources. READ MORE