Riyadh - Sharikat Mubasher: SURJ Sports Investments, wholly owned by the Public Investment Fund (PIF), participated in a Series C funding round for the Professional Triathletes Organisation (PTO), along with founding investor Sir Michael Moritz, Cordillera Investment Partners, and Verance Capital.

The funding will accelerate PTO’s expansion into the MENA region, with Saudi Arabia a likely future host market for its flagship T100 Triathlon World Tour, SURJ announced in a press release today.

This milestone follows a $10 million investment from Cordillera Investment Partners in March 2025 and builds on previous rounds led by Divergent Investments, Warner Bros. Discovery, and health-focused venture fund Eckuity.

Danny Townsend, CEO of SURJ Sports Investment, said: “The PTO is redefining endurance sport for modern audiences, blending elite racing with inclusive, mass participation formats, global storytelling, and community engagement. We are proud to support this next phase of growth and to explore how the model can inspire more people across the region to get active.”

This partnership underscores Saudi Arabia’s growing demand for inclusive, mass participation sport in line with the ambitions of Vision 2030.

For his part, Sam Renouf, CEO of the PTO, commented: “We’re delighted to welcome SURJ and Verance Capital to the PTO investor family. This is a major milestone not only for us as an organization, but for the broader vision of triathlon’s future. Our goal has always been to reimagine the sport for modern audiences and open up participation to athletes of all levels.”

In 2024, PTO launched the T100 Triathlon World Tour, a reimagined endurance series featuring the world’s top 20 male and female triathletes, competing alongside amateur athletes in major global cities including Singapore, San Francisco, London, Ibiza, Lake Las Vegas, and Dubai. In 2025, the series expanded from seven to nine races.