• PIF’s Surj invests in PTO’s USD 40M Series C round to back elite and mass-participation triathlon events globally.
• The funding will support PTO’s global expansion, with Saudi eyed as a future host for the T100 Triathlon Tour.
• Surj’s move into triathlon aims to diversify its sports portfolio and professionalize endurance events in partnership with the PTO.

Surj

The sports arms of Saudi’s Public investment Fund (PIF), Surj, invested in the Professional Triathletes Organisation (PTO).  The investment was part of the organisation’s Series C funding round valued at approximately USD 40 million. Additionally, the round also saw participation from investor Sir Michael Moritz, Cordillera Investment Partners and Verance Capital.

With the funding, PTO aims to support its international growth at both elite and mass participation levels. It also aims to support innovation in race formats and long-term athlete and fan engagement. Additionally, the funding will help accelerate the PTO’s expansion into the MENA region. This is starting with Saudi Arabia as a likely future host market for its T100 Triathlon World Tour.

 “Our goal has always been to reimagine the sport for modern audiences and open up participation to athletes of all levels. With new partners like SURJ and Cordillera, we’re better equipped than ever to scale our ambitions globally,” said Sam Renouf, CEO of the PTO.

Triathlon

The T100 Triathlon World Tour was launched in 2024 as a reimagined endurance series featuring the world’s top 20 male and female triathletes. They compete alongside amateur athletes in major global cities including Singapore, San Francisco, London, Ibiza, Lake Las Vegas, and Dubai.

Globally, the partnership aligns with the broader push for gender equality in endurance sport. The T100 Tour features equal representation of male and female professional athletes. It also provides new competitive platforms designed to elevate women across the global triathlon landscape.

Surj, a PIF subsidiary established in 2023, is set to diversify its investment portfolio further with this investment by venturing into triathlon. This move, in partnership with PTO, aims to professionalize swim-bike-run events and promote mass participation globally.