If the $40 billion fund goes ahead, it would make Saudi Arabia the largest investor in the AI space.
The venture capital firm has pledged $30 million for incubating Web3 startups since last year.
Polychain Capital and Hack VC led the Series A funding round of Babylon Chain, a protocol working on Bitcoin staking for proof-of-stake networks.
VanEck strategy adviser Gabor Gurbacs expects a wave of new investment capital and immigration will push El Salvador’s economic growth in the coming years.