Saudi investment firm Kingdom Holding Co. (KHC), which has been on an investment spree in the past few days, has increased its investment by 274.3 million riyals ($73.1 million) in US-based Hercules Capital Inc., a specialty investment company focused on venture lending.

The company, owned by Saudi billionaire Prince Alwaleed Bin Talal, said in a regulatory filing on Riyadh’s Tadawul stock exchange that the fresh investment takes its total stake in Hercules Capital to 6.6%.

The New York NYSE-listed Hercules Capital has over $3.9 billion of assets under management as of end Q1 2023, an increase of 33.2% on year, according to its earnings statement.

Earlier this week, Kingdom Holding said it made an additional $73.10 million investment in UK-based insurance, savings and retirement firm, Phoenix Group, taking its stake to 5%.

Last week, the Saudi investor increased its ownership in M&G, a European insurance and asset management company, with an additional investment of $61 million, which increased its stake from 5.3% to 6.4%.

In May 2022, Prince Alwaleed sold 16.87% of Kingdom Holding to the Saudi sovereign wealth fund, the Public Investment Fund, for $1.5 billion.