Visionary in Talks with Saudi PIF, Qatar’s Alfardan for Hong Kong Fund
Deal News | Mar 27, 2025 | Zawya
Visionary Holdings, a public company based in Toronto, is currently negotiating with Saudi Arabia's Public Investment Fund (PIF) and Qatar's Alfardan Group to fund the recently launched Visionary Industrial Development LPF in Hong Kong. The first phase of this fund is valued at $50 million and focuses on investments in the new energy sector, including electric vehicles, photovoltaics, and energy storage. Visionary, trading on the Nasdaq, will be the principal investor, pledging 10% of the fund's total. Additionally, Visionary has strengthened its collaboration with Alfardan Group, having secured a $1 billion financing agreement from the Qatari conglomerate to expand its battery swapping operations in Hong Kong. The discussions with PIF and Alfardan mark a significant strategic move aimed at further establishing Visionary's presence in the Asian market.
Sectors
- Renewable Energy
- Automotive
- Private Equity
Geography
- Hong Kong – The primary location for the Visionary Industrial Development LPF aimed at energy investments.
- Canada – Visionary Holdings is a Toronto-based company spearheading the investment.
- Saudi Arabia – Saudi Arabia's PIF is in talks to invest in the Hong Kong fund.
- Qatar – Alfardan Group from Qatar is a potential investor and existing collaborator with Visionary.
Industry
- Renewable Energy – Relevant due to the fund's focus on new energy industries such as photovoltaics and energy storage.
- Automotive – The industry is relevant as Visionary's fund will invest in new energy vehicles, focusing on electric automobiles.
- Private Equity – Visionary is leading a fund investment venture requiring significant PE involvement, including contributions from major financial entities like PIF and Alfardan.
Financials
- $50 million – Issuance scale for Phase I of the Visionary Industrial Development LPF.
- $1 billion – Financing secured from Alfardan Group for Visionary's battery swapping operations in Hong Kong.
- 10% – The percentage of the fund's total amount contributed by Visionary Holdings.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Visionary Holdings | Lead Investor | Company | A Toronto-based public company leading the fund initiative and designated as a lead investor in the Hong Kong project. |
| Public Investment Fund (PIF) | Potential Investor | Company | The sovereign wealth fund of Saudi Arabia evaluating investment in the Hong Kong energy fund. |
| Alfardan Group | Potential Investor | Company | A Qatari family-owned conglomerate in talks again with Visionary after a financing collaboration. |