The Saudi Arabian government is an investor in the private company that owns “a virtual monopoly” on software the Democrat National Committee (DNC) uses to aid its candidates, according to a report.
The Saudi Arabian government is an investor in the private company that owns “a virtual monopoly” on software the Democrat National Committee uses to aid its candidates, according to the Intercept.
According to Sanabil’s disclosures, two private equity firms it invested in are linked in the sale and acquisition of EveryAction and NGP VAN, the companies that run the DNC’s tech operations.In addition to investments in Apax Partners, which acquired NGP VAN and EveryAction in August 2021, Sanabil is also invested in Insight Partners, another venture capital and private equity firm that invested in EveryAction in 2018 and sold parts of the company to Apax in 2021.
“While they are entitled to receive information relating to the performance of their investments at fund level, they do not have access to sensitive portfolio company information,” the spokesperson added.The disclosure of Saudi Arabia’s investments comes less than three months after Bonterra, the new merged company created by the Apax acquisition, instituted layoffs at EveryAction and NGP VAN.
Progressive strategist Gabe Tobias criticized Sanabil’s disclosure, saying it shows the two companies are owned by an institution that “absolutely doesn’t care about them.”
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