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A new trend sees tech founders and VCs turning to Gulf states' sovereign wealth funds for funding, despite previous hesitations. Silicon Valley firms are now forming partnerships with Middle Eastern countries, with notable examples like Andreessen Horowitz seeking $40 billion from Saudi Arabia for an AI fund. This shift in attitude marks a significant change in the tech industry landscape, as Middle Eastern funds are increasingly influencing U.S. tech investments.
New: The Middle East’s sovereign wealth funds have poured money into dozens of U.S. private tech funds with the expectation that some of those petro dollars will funnel back to the region. Now there are signs that venture capitalists and private equity funds are responding by…
Silicon Valley tech leaders are now openly embracing Middle Eastern oil money, giving Saudi and the UAE unprecedented influence in the U.S. tech industry. “The Khashoggi era is over,” said a prominent venture capitalist. https://t.co/qrOyztGga8 by @lizzadwoskin @nakashimae…
Silicon Valley once chafed at dictatorships. Then came a Middle East gold rush. "Prominent venture capital firm Andreessen Horowitz is in talks to raise $40 billion from Saudi Arabia for a dedicated AI fund." https://t.co/tec1Twi2rH
