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.
Read more: Saudi Arabia’s PIF invests $235 million in NCSoft
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