Saudi Arabia’s PIF takes 5% stake in Nintendo

by WAYA Staff - May 19, 2022

Source: Getty Images

Saudi Arabia’s Public Investment Fund (PIF) has taken a 5.01% stake in Nintendo as the fund increases its expansion to the Japanese video gaming industry. This stake acquisition makes PIF, the 5th largest shareholder in Nintendo.

PIF said that the stake in Nintendo was made for investment purposes, according to a filing to Japan’s Finance Ministry. The fund has made previous investments in video game makers and e-sports firms and even launched its own video game and e-sports company, Savvy Gaming and acquired ESL and FACEIT in a $1.5 billion deal.

The fund has also recently taken stakes in video game companies: Nexon, Capcom and Koei Tecmo.

If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.

Egyptian Healthcare Startup Doxx raises $1.5m in a Seed Round

by WAYA Staff - May 18, 2022

Doxx, Egypt-based healthcare startup, raised $1.5 million in seed round led by VC Openner. Doxx also launched the first fully integrated digital platform in the MENA region after the seed round connecting medical professionals and institutional healthcare providers including pharmacies,...

Robinhood to launch a non-custodial Ethereum wallet with no gas fees

by WAYA Staff - May 18, 2022

Robinhood is set to launch a new user-controlled non-custodial Ethereum wallet that gives users full control over their crypto assets by the end of the year. This is a pivot from its web-based custodial wallet, where the company holds customer...

Apple is abandoning its Lightning Port for USB-C

by WAYA Staff - May 18, 2022

In a recent report, Apple is set to kill off its proprietary lightning port across all of its devices. This update is a response to the European Union mandating USB-C as a universal port in all smaller electronics to reduce...

Pemo raises $12m in a seed round and launches SMEs spend management platform

by WAYA Staff - May 18, 2022

Pemo, UAE-based FinTech startup empowering businesses across MENAP, launched its all-in-one spend management platform after raising $12 million in a seed round. The funding round was co-led by Cherry Ventures and Shorooq Partners, with participation from FinTech Collective, Speedinvest, BY...

Egypt’s Entrepreneur Awards announces the shortlisted finalists of its second edition

by Nouran Allam - May 17, 2022

Egypt’s Entrepreneur Awards (EEA) announced the list of shortlisted finalists of its second edition that is powered by Tatweer Misr as a strategic partner, yesterday. The competition received applications from hundreds of entrepreneurs in more than 17 different categories and...