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Key people at pif.vc.
The Pay it Forward Company is a venture firm that funds and co-founds enterprises focused on new paradigms by addressing root causes. It also operates PIF Advisory, providing operational infrastructure support in finance, marketing, and IT to founders and family offices. This dual approach allows the firm to both invest directly in promising ventures and offer critical operational guidance, fostering growth and stability within its portfolio and beyond.
Co-founded in 2019 by General Partners Raaid Hossain and Omar Chohan, The Pay it Forward Company emerged from the insight that lasting impact arises from source-solving. This core belief guides their investment thesis, focusing on ventures with significant societal potential. Their leadership shapes the firm's distinctive approach to venture building, emphasizing fundamental solutions over superficial fixes to complex problems.
The firm primarily serves founders developing foundational technologies for global betterment, alongside family offices and enterprises utilizing its advisory services. The Pay it Forward Company’s vision is to improve lives for billions, realized through investments in transformative solutions and by committing 20% of GP profits to philanthropy. This commitment underpins its "pay it forward" philosophy, aiming for both financial returns and meaningful societal contribution.
pif.vc has 2 tracked investments across 2 companies. The latest tracked deal is $3.0M Seed in NEXT Life Sciences in January 2024.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Jan 1, 2024 | NEXT Life Sciences | $3.0M Seed | Ryan Breslow | Seaside Ventures, MEI Z., Brock Pierce, Keno Peer, JOY Fund, Particular Ventures, StartUp Health, Transform VC, Unpopular Ventures |
| May 1, 2020 | Floating Point Group | $2.0M Seed | — | Climacticvc, Future Shape, Esther Dyson, Marc Benioff, Naval Ravikant, Steve Kokinos, Josh Felker, Seabury Global Markets |
Key people at pif.vc.
The Public Investment Fund (PIF) is Saudi Arabia's sovereign wealth fund, established to diversify the economy away from oil dependency as part of Vision 2030. Its mission centers on maximizing assets, unlocking new sectors, localizing technologies, and building economic partnerships, with assets under management reaching approximately $912 billion as of late 2024 and targeting over $1 trillion by 2025.[2][3][5] PIF's investment philosophy emphasizes 80% local investments, conservative borrowing, and strategic global partnerships, focusing on key sectors like technology, green energy, aviation, aerospace, financial services, renewables, sports, and giga-projects such as NEOM, Qiddiya, and the Red Sea Project.[1][2][3][6] In the startup and broader ecosystem, PIF drives impact by creating over 1.8 million jobs, establishing 79 companies, and contributing to non-oil GDP growth, positioning Saudi Arabia as a global investment hub.[3]
PIF was founded in 1971 to manage Saudi Arabia's government funds, initially focused on domestic investments.[2][4] Under Crown Prince Mohammed bin Salman, who has chaired it since 2015, the fund evolved dramatically with the 2017 Public Investment Fund Program, aligning it with Vision 2030's economic diversification goals.[1][3] Key figures include Chairman Mohammed bin Salman, CEO Yasir Al-Rumayyan, and investment leads like Turqi Al-Nowaiser and Yazeed A. Al-Humied.[2] Pivotal moments include the 2016 Aramco ownership transfer, aggressive international bets like stakes in Uber, Boeing, and Meta, and a shift toward tech and non-oil sectors, growing AUM from modest beginnings to nearly $1 trillion.[1][3]
PIF rides the global shift to tech-driven economies and Saudi's post-oil diversification, timing investments amid rising demand for fintech, green energy, and AI.[5][6] Market forces like Vision 2030's $319 billion non-oil GDP target by 2025 and PIF's $1 trillion AUM amplify this, funding innovations in U.S. tech, renewables, and sports while creating ecosystems for startups.[3][5][6] It influences the landscape by localizing edge tech, partnering internationally, and positioning Saudi as an investment magnet, reshaping global finance and MENA innovation.[3][5]
PIF is poised to hit $1 trillion+ AUM in 2025, accelerating tech/fintech bets and giga-projects amid energy transitions and AI booms.[3][5] Trends like sustainable tech and U.S.-Saudi ties will shape it, potentially evolving its influence from regional powerhouse to global VC rival through more startup funds and job creation.[1][6] As the engine of Vision 2030, PIF's bold scale continues transforming Saudi from oil reliance to a diversified tech leader.
