VC investments have been through lots of changes over the years. Here we are at the beginning of an unprecedented boom in Saudi Arabia's startup scene, and VCs are taking note. The Saudi government is backing a whole new way of building startups – providing funds, mentoring companies and other support to entrepreneurs as they launch businesses.
This article is part of a series where we present you the best Venture Capital firms across different cities and countries. Here you can view the ranking for Saudi Arabia.
Top Venture Capital firms in Riyadh
1. Raed Ventures
Raed Ventures is a Saudi venture capital firm that provides funding for the seed and early-stage startups in KSA and MENA. They invest in entrepreneurial teams shaping the market landscape and we provide MENA startups an opportunity to work in the Saudi & GCC markets. It helps startups in building and executing their plans through collaborations with their sister companies and leveraging their market knowledge and network.
Raed Ventures's most notable exits include Swvl and Eventtus.
Impact 46 is an asset manager and advisor that specializes in alternative investment opportunities. The firm provides innovative investment products and services to local & international institutions, family groups, endowments, and high net worth investors.
STV is an independent VC fund that is anchored by STC (MENA's largest telecom operator) with access to its assets (e.g., network, channels, analytics, customer base, etc) to enable its portfolio companies to scale. (Operation started in early 2018)
Total fund size: $500M
4. Nama Ventures
Nama Ventures is a seed stage venture capital fund focused on fueling innovation in the MENA region, particularly in Saudi Arabia. ama Ventures is built upon the fundamental idea of enabling entrepreneurs to succeed. And as founders of Nama, we are thrilled to finally have the platform to implement this idea. Our hope is that entrepreneurs willing to partner with us will see and feel our value-add approach to investing.
5. Khwarizmi Ventures
Khwarizmi Ventures is a venture capital firm that seeks investments in startups with a passion for algorithms. It seeks to help create their vision, as they embark on a journey together that aligns their goals to improve quality of life using technology powered by algorithms.
Total fund size: $63M
Khwarizmi Ventures's most notable exits include Fatura and POSRocket.
6. Riyad TAQNIA Fund (RTF)
Riyad TAQNIA Fund (RTF) is a venture capital fund investing in early stage technology companies around the globe. The fund is interested in post-revenue Seed through Series-B opportunities. RTF was founded by Riyad Capital Co. and TAQNIA and is backed by leading Saudi institutional investors.
7. Saudi Arabia's Public Investment Fund
The Public Investment Fund was originally established in 1971 to facilitate the development of the Saudi Arabian national economy. In 1974, PIF was mandated to hold equity positions in join-stock ventures within its domestic economy.
Total fund size: $11B
Saudi Arabia's Public Investment Fund's most notable exits include Uber, Live Nation Entertainment, and Lucid Motors.
8. Saudi Venture Capital Company
Saudi Venture Capital is an investment firm which helps to minimize current equity funding gaps for Startups.
SEEDRA Ventures is an early-stage venture capital firm branching out of Riyadh, Saudi Arabia and focused on cultivating disruptive innovations and trends across the region.
10. Sukna Ventures
Sukna ventures is a venture studio and fund based in Saudi Arabia.