Saudi Arabia is the 2nd largest economy in the Middle East and Africa region (as of 2013) after the UAE. There has been a lot of innovations done in the country which has led to the birth of a number of tech companies. This has made Saudi Arabia become one of the top fastest growing economies in the world.
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 Riyadh.
Top Venture Capital Firms in Saudi Arabia
1. KAUST Innovation Fund
KAUST Innovation Fund is a venture capital firm that aims to grow an innovation and technology investment community and to attract investors and venture capital firms to the emerging Saudi technology ecosystem. The firm makes venture capital investments in high-tech startups from seed to early-stage and becomes a long-term strategic partner ofthese ventures. It specializes in the solar and alternative energy, water, information and communications, material and chemical sciences, electrical and electronics, biological and life sciences sectors, ICT. Additionally, the ecosystem provides mentorship and acceleration to the startups through the Entrepreneurship Center. and chemical sciences, electrical and electronics, biological and life sciences sectors, ICT.
2. Vision Ventures
Vision Ventures (VV) is an early stage venture capital firm founded by experienced entrepreneurs. Its slogan is: By Entrepreneurs for Entrepreneurs. We invest in innovative startups in the Seed and Series A across a wide range of verticals. We help startups realize their dreams and make a difference in a noisy world. We are an energetic team that has a wealth of experience in starting companies and steering them to success and hyper growth. Our combined experience spans over 90 years in multiple countries which gives us extensive experience in multi-national, multi-cultural teams. We provide startups with hands on assistance and guidance on marketing, sales, product/service development, financial planning and management, expansion & growth strategy, and more.
Vision Ventures's most notable exits include MUNCH:ON, The Chefz, and POSRocket.
3. 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, Melltoo, and Eventtus.
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
5. 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.
6. 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, Aston Martin, and Live Nation Entertainment.
7. 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 Melltoo, Fatura, and POSRocket.
8. 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.
9. Prosperity7 Ventures
Prosperity7 Ventures is a venture capital firm that invests in early and growth-stage startups with a long-term view. The firm investments range from early-stage enterprise, blockchain, financial and industrial technologies to medical and healthcare solutions. industries as diverse as medtech, fintech, and B2B SaaS. They provide venture funding that presents an unparalleled opportunity for international scalability and impact.
Prosperity7 Ventures was founded in 2019 and is based in Beijing, New York City, Dhahran, San Francisco, and Shanghai.
Daal is a venture capital that aims to connect the most promising IT opportunities around the world with the talent and leadership of world-class investors based in Saudi Arabia.
As offshoot of storied investment company, Sumou Holdings, Daal represents the bridge to a future that recognizes two certainties: the importance of IT innovation and the need for the GCC region to connect with and welcome the best and brightest emerging companies from around the world.
The aim of Daal is to create excellent opportunities for investment by providing mentorship and business development insights to companies within the IT space. The Daal team has the experience to guide and nurture the growth of these companies on the international stage. This is especially true for emerging companies looking to expand into the Middle East and penetrate the Saudi market.
As a VC fund, Daal offers its investors a chance to participate in high-growth opportunities unique to the IT sector. Daal is led by investors and principles who are committed to bringing innovative companies to the GCC region.
DAAL Ventures's most notable exits include Eventtus and Fonibo.