Saudi Arabia: Xcalibur fundraising efforts

Issue 1109 - 03 Sep 2020

GSN understands that UK-based Xcalibur Aerospace – a drone company, which is part-owned by Saudi Arabia’s Public Investment Fund (PIF) – tried to raise $500m in a fund-raising effort focused on the US west coast earlier this year. However, it is believed the effort came to an end without any funds being raised, as investors were unpersuaded about what was on offer.

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