Saudi Arabia | Page 6

Since its inception in 2015, Raed has quickly established itself as a leading player in the MENA startup ecosystem, and it has invested in 39 portfolio companies.

Wa'ed Ventures is a US$500 million venture fund investing in the next generation of transformative startups which are taking advantage of disruptive technologies.

"We are backing the Asanas, Stripes, and PayPals of the Saudi market."

With over US$800 million in capital, STV backs and scales the region's most exciting and disruptive technology companies, primarily focused on growth-stage technology.

Saudi Venture Capital Company is a government-backed investment company with US$1.5 billion in assets under management, aiming to stimulate and sustain financing for startups and SMEs from pre-seed to pre-initial public offering.

This list has been compiled for (Saudi) startup founders to get familiar with- in case you might approach them in the future, to assess their impact on your cap table.

37% of Hala Ventures' portfolio companies are Saudi-based, with 10 deals inked in the Kingdom so far.

Saudi Arabia may be relatively new on its entrepreneurial and digital economy journey, but the Kingdom's laser focus on developing a strong entrepreneurial ecosystem has helped startup activity grow, and quickly.

Hosted in Riyadh from March 9-13, 2023, the forum resulted in a great number of agreements and memorandums of understanding signed between investors, owners, and policymakers.

Saudi Arabia's Tourism Development Fund (TDF) and Impact46 reaffirm their commitment to supporting the Kingdom's Vision 2030.

Since its establishment in 2016 in Dammam, Vision Ventures has invested in 47 companies, 20 of which are Saudi-based.

"The good news is that we are seeing a gradual evolution and shift, and we hope the next wave of VCs will fill these white spaces."

Accelerators typically run for a set period of time, ranging from a few weeks to a few months, and they often include a structured curriculum or program of events designed to assist startups in learning and growing.

Saudi Arabia is geared to reach its goal of 70% cashless transactions before 2025.

Since 2017, the number of local venture capitalists have ballooned, predominantly investing in seed-stage and early-stage startups.

Many international VCs that have started to keep an eye on the Saudi market are also assessing it as a potential market for their international portfolio companies.

Paymennt co-founder Tarek Ghobar believes his entreprise is well-positioned to contribute towards Hala's vision of becoming a one-stop-shop for SMEs.

The new report is packed full of insights and data, as well as opinions from thought leaders in Saudi Arabia.

With 172,000 people confirmed to have visited the event, LEAP 2023 has been declared to be the world's largest technology event in terms of attendance.

The latest string of investments will be allocated across a plethora of sectors to help Saudi Arabia make greater strides towards digital transformation.

The huge investment packages are said to come with the full support of Saudi Arabia Crown Prince HRH Mohammed bin Salman bin Abdulaziz Al Saud, who remains committed to accelerating tech developments in Saudi Arabia.