Saudi Arabia is in the midst of epochal reform to shift its economic model and diversify its investment base . As part of this process, known as Vision 2030, Riyadh announced Nov. 30 that it will transfer $27 billion (100 billion riyals) to the Public Investment Fund (PIF), a sovereign wealth fund established in 1971 using oil revenue. The transfer will increase the PIF's asset base to $187 billion. With this infusion, the Saudi government hopes to facilitate some of the groundbreaking investment agreements it has signed over the past few months. Already in 2016, PIF announced a raft of investment deals: $3.5 billion into Uber, up to $45 billion in Softbank's new $100 billion tech fund as well as $500 million into Noon, a regional e-commerce startup founded by Mohamed Alabbar.