Saudi Arabian sovereign wealth fund The Public Investment Fund (PIF) is making a second $45 billion investment in Japanese internet to investment company SoftBank's second vision fund.
The investment fund said that it wants to be a key investor in the next $100 billion fund that Softbank plans to raise, bringing the PIF's investment in the two funds to a total of $90 billion.
PIF said in September of this year that it plans to spend around $50 billion a year on startup investment.
The company added that its target in 2020 is around $600 billion and it expects to surpass that target in the same year.