Saudi's PIF-owned unit buys $265 million stake in Chinese gaming company VSPO

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Chinese esports company VSPO, backed by Tencent Holdings Ltd, said on Thursday Saudi Arabia's sovereign wealth fund has bought a stake worth $265 million in the company, as the kingdom continues its push in the gaming market.Saudi's Public Investment Fund will take a stake in VSPO through gaming unit Savv

Chinese esports company VSPO, backed by Tencent Holdings Ltd, said on Thursday Saudi Arabia's sovereign wealth fund has bought a stake worth $265 million in the company, as the kingdom continues its push in the gaming market.

Saudi has been expanding its investments in the gaming industry by taking stakes in Japan's Nintendo Co and Swedish gaming group Embracer last year.

 

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