SBI Holdings is expanding into Saudi Arabia’s untapped biotechnology sector with a new investment fund launching in early 2025. The Japanese financial group aims to raise up to $100 million in partnership with local firm BIM Ventures.
The initiative aligns with Saudi Vision 2030’s push to diversify beyond oil, marking the first dedicated biotech fund in the Kingdom. SBI will leverage its pharmaceutical industry expertise and startup investment track record to identify opportunities.
The fund has secured backing from Saudi Arabia’s Ministry of Investment and will collaborate with King Abdullah International Medical Research Center for target selection. Foreign state funds are expected to contribute capital, though specific investors haven’t been disclosed.
The move comes as Saudi Arabia seeks to build its domestic biotech capabilities while attracting international companies. For SBI, which operates across securities trading, insurance, and cryptocurrencies, the fund represents its initial biotech investment in the Middle East.
The project’s success will depend on the Kingdom’s ability to create an attractive environment for biotech development and SBI’s experience in pharmaceutical investments translating to the Saudi market.
