FII8 Day Three Ends with $70 Billion in Deals Announced

RIYADH, Saudi Arabia, Nov. 3, 2024 /PRNewswire/ -- The Future Investment Initiative (FII) Institute wrapped up Day 3 of its 8th annual gathering in Riyadh, with an "Investment Day" under the theme of "Infinite Horizons: Investing Today, Shaping Tomorrow." Leaders, investors, and innovators explored avenues to drive impactful investment in emerging markets, venture capital, and sustainable growth strategies, setting the stage for the future of global finance and economic development.

Richard Attias, CEO of the FII Institute, commented on the day's events: "Today's discussions underscored the power of targeted investments to transcend traditional boundaries, creating opportunities in markets that promise to shape the next economic era. Our collective focus on deploying capital with long-term vision and sustainability will guide us as we navigate an ever-changing landscape."

Standout Moments from FII8 Day 3:

1.         Opening Remarks by H.E. Faisal F. Alibrahim

H.E. Faisal F. Alibrahim, Minister of Economy & Planning for the Kingdom of Saudi Arabia opening remarks set the tone for the day, emphasizing the role of investment in Saudi Arabia's economic transformation under Vision 2030, highlighting non-oil growth as pivotal for future diversification.

2.         Panel on Alternative Asset Growth in Emerging Markets

Key insights were shared during a session featuring H.E. Mohammed El-Kuwaiz, Chairman, Capital Market Authority (CMA); Rishi Kapoor, Vice Chairman & CIO, Investcorp; Chip Kaye, Chairman, Warburg Pincus LLC which focused on new frontiers in alternative asset growth. This panel explored trends driving investments in emerging economies, spotlighting regions set to lead the next growth phase.

3.         Capital Allocators Roundtable

A high-level discussion gathered influential leaders to discuss 2024's projected impact for alternative assets and the diversification trends shaping institutional portfolios. The roundtable featured a diverse array of experts, including institutional investors, and thought leaders, all sharing insights on how alternative investments are becoming crucial in navigating economic uncertainties.

4.         Venture Capital Hotspots: Catalysts for Disruption

In this session, the panel explored the evolving landscape of innovation funding, with a particular emphasis on developments in burgeoning markets like Saudi Arabia.

5.         Health Humanity Initiative

In a global effort to secure a healthier future for all, FII Institute launched the Healthy Humanity Initiative inviting over 100 corporations, 10 health insurance companies insurers and governments from the Global South and North to join the movement to impact lives by providing free preventive health checkups for citizens every two years, waive up to 50% in health bills and ensure tax-free benefits. So far, this initiative has garnered support from Saudi Health in All Policies (HIAP), Claure Group, Moderna, Merck GCC, â Ausmed Global, â Qi Ming Venture Partners, â Burjeel Holdings, SCAI, CURA, Genrait and Cleveland Clinic.

6.         Health Longevity Compass

The FII Institute presented findings from the Healthy Longevity Compass, which surveyed 22,600 respondents across 21 countries in partnership with The McKinsey Health Institute. The study revealed that 70% of individuals aspire to adopt healthier living habits, yet 43% in developing countries are dissatisfied with access to nutritious food. Read the Full Report Here.

7.         Investment Day

FII8 Investment Day launched a dynamic new chapter for the entrepreneurial ecosystem, transforming bold visions into actionable solutions that drive progress. At the inaugural global program hosted by FII Institute, five start-up companies showcased their cutting-edge tech solutions tackling world's most pressing global challenges in artificial intelligence and robotics, sustainability, health and education. Among the innovators were: Oxccu, Sakuu, Beyond-Aero, Archireef and Bytelearn.

In the finale, Sakuu emerged as the winner and was crowned FII8 Innovator 2024. Each participating company received 2025 FII Institute complimentary membership and access to the FII Venture Program – powered by General Atlantic and Lakestar. This comprehensive support system is designed to accelerate their growth, offering unparalleled opportunities for market expansion, knowledge sharing and global visibility. Additionally, the innovative start-ups are eligible for a market expansion package providing over $10 million in financing grants and startup support. They may also benefit from soft landing program through NTDP (Saudi Arabia) and Hong Kong Science and Technology Park.

8.         Closing Remarks by H.H. Prince Faisal bin Farhan Al Saud, KSA Minister of Foreign Affairs. H.H. Prince Faisal emphasized the importance of global citizenship in addressing today's pressing issues. He highlighted that collaboration across nations is vital for tackling conflicts, climate change, health crises, and economic disparities.

9.          Announcements: During the four days of the FII8 conference, over 30 plus announcements worth 70 billion dollars were made that focused on promoting sustainable development and innovative solutions for humanity. Additionally, strategic partnerships were established highlighting collaboration across various sectors, including technology, quality of life, and innovation.

As FII8 wrapped up, the narrative of a united front for positive change was clear. The collective voices of leaders and innovators echoed the sentiment that the future is not just a vision; it's a movement we are all part of Day 3 at FII8 demonstrated the Institute's commitment to connecting capital with impactful initiatives, further strengthening the global investment landscape. The FII Institute continues its mission of fostering sustainable and forward-looking investments that empower change across diverse geographies.

For media inquiries, please contact: media@fii-institute.org 

About FII Institute

The Future Investment Initiative (FII) Institute is a global non-profit foundation driven by data with an investment arm and one agenda: Impact on Humanity. Global and inclusive, we foster great minds from around the world and turn ideas into real-world solutions in four critical areas: Artificial Intelligence (AI) & Robotics, Education, Healthcare and Sustainability.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

FII8 Day Three Ends with $70 Billion in Deals Announced

Smilegate's deep expertise in Asian markets coupled with Dan Houser and the Absurd Ventures team's creative vision and blockbuster AAA game experience aims to create vast and sustainable global business opportunities

SANTA MONICA, Calif., Dec. 3, 2024 /PRNewswire/ -- Smilegate today announced that it has made a strategic investment and become a partner in Absurd Ventures, a U.S.-based media and entertainment company founded by Rockstar Games co-founder Dan Houser. Absurd Ventures was launched by Houser, whose creative direction during his over twenty years at Rockstar Games drove the Grand Theft Auto and Red Dead Redemption franchises, among others, to collectively sell more than 550 million units worldwide. Through this agreement, Smilegate will have the opportunity to partner on Absurd Ventures' new IP.

Houser creatively oversaw globally successful IPs that are cultural cornerstones and rooted in immersive storytelling. As the creative director and lead writer of Rockstar's biggest games, Houser conceived indelibly rich worldbuilding, captivating and sometimes heart-breaking stories, and created iconic characters like Tommy Vercetti, Arthur Morgan, Trevor Phillips and John Marston to name just a few. Houser's team at Absurd Ventures includes key leaders and talent from his time at Rockstar Games as well as executive game development veterans who worked on Call of Duty, Pokemon Go! and many other AAA franchises. Absurd Ventures is currently at work building a bold new vision with diverse new IP universes across a wide array of mediums, including video games as well as live-action and animated TV and film, audio fiction podcasts, books, comic books and more. While Absurd Ventures' video game projects are in early stages of development, they have in 2024 released a hit audio fiction series set in their science-fiction universe, A BETTER PARADISE, which debuted at #1 on Apple's Fiction charts, and will be introducing their AMERICAN CAPER crime-fiction universe as an original comic book series in 2025. A third IP universe from Absurd Ventures will also be revealed soon.

Smilegate is the creator of the blockbuster franchises "CROSSFIRE", "Lost Ark", and "Epic Seven", that are hugely beloved in the global market. "CROSSFIRE", launched in 2007, is a first-person shooting game and is currently played in more than 80 countries worldwide by approximately 1 billion gamers. Smilegate's flagship MMORPG "Lost Ark", is played in 160 countries by 1..32M concurrent users. Smilegate is steadily solidifying its position as a 'Global IP powerhouse'.

Smilegate and Absurd Ventures will each leverage the strength of the other into new and sustainable business opportunities. Smilegate will benefit from Houser and his team's proven narrative, AAA game and business expertise in the Western market, while Absurd will benefit from Smilegate's expertise in the Asian market. The two companies will pool each other's strengths in areas such as online/live service, given Smilegate's success with CROSSFIRE and Houser and his team's experience overseeing the wildly successful Grand Theft Auto Online.

Dan Houser, Founder of Absurd Ventures, said, "This collaboration with Smilegate was borne from a mutual respect and a philosophical alignment with founder Kwon, and the great passion he and his team bring to making AAA games. We both want to build interesting worlds and new player experiences." 

Joonho Sung, CEO of Smilegate, said, "We are thrilled to collaborate with the developers behind globally renowned series that have millions of fans worldwide. Together with Absurd Ventures, Smilegate aims to deliver games that players across the globe will love. This partnership marks a critical milestone in Smilegate's journey toward becoming a global IP powerhouse."

Smilegate was advised by DLA Piper and Absurd Ventures was advised by Grubman Shire Meiselas & Sacks, P.C. with respect to the transaction.

About Smilegate: Smilegate is a global game development and publishing company headquartered in South Korea with regional offices in the United States, China, and Japan. Its flagship franchise 'CROSSFIRE,' is one of the largest and most successful franchises in gaming history. It has more than 1 billion registered users to date in PC and mobile platforms and over 8 million concurrent players globally. Its latest project, 'Lost Ark,' is an MMORPG that was released in South Korea in 2018 and was launched in North America and Europe in February, 2021. Lost Ark recorded concurrent players on Steam with over 1.32M. Learn more by visiting Smilegate.com

About Absurd Ventures: Absurd Ventures is an entertainment company creating new IP across all mediums. Absurd Ventures' original properties include the sci-fi thriller universe "A Better Paradise" and the crime fiction universe "American Caper," whose characters, stories and lore are currently being produced and developed for video games, live-action and animated TV and film, fiction podcasts, books, comic books and more. The company has already launched a chart-topping audio fiction series set in the "A Better Paradise" universe and will be debuting an American Caper comics series in 2025. Founded by Dan Houser, Absurd Ventures is headquartered in Santa Monica, with additional studio offices in Marin, CA. 

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

Smilegate Makes Strategic Investment in Dan Houser's Absurd Ventures, Accelerating Its Growth in the Global Gaming Market