If you plan to carve out a slice of venture capital in Saudi Arabia the timing couldn’t be better.

Empowered by Saudi Vision 2030, Saudi Arabia captured over 42% of investment in the MENA region in 2023. With a robust portfolio of over 1.6K startups backed by 140+ programs and a network of VC funds, it has all the potential to eclipse Western markets—especially amidst the current doom and gloom in the global market. 

We’ve prepared a tailored list of top VC funds in KSA with their investment focus, track records, financial details, and contacts to help you choose the right investor, reach out to them, and fundraise successfully.

Waveup offers fundraising support and investor outreach services to startups
Learn more

1. Raed Ventures

➡️ Raed Ventures is a sector-agnostic investment company in Riyadh, backing early-stage breakthrough companies across the MENA region.

Industries: FinTech, E-commerce, Logistics, EdTech, Digital Health, Enterprise Solutions, Entertainment, RetailTech, AI/ML

Funding stage: Early Stage Venture, Seed

Value-added beyond money: 

RAEDPlus—a flagship program, offering portfolio companies expert advice, talent onboarding assistance, and access to a range of free services.

Number of investments: 62

Number of exits: 3

Notable portfolio companies: SWVL, Melltoo, Eventtus

Contacts: Contact page, LinkedIn

2. Saudi Aramco Energy Ventures

➡️ Saudi Aramco Energy Ventures is based in Dhahran, Saudi Arabia, with offices spanning North America, Asia, and Europe. It functions as the venture capital arm of Saudi Aramco, the world’s integrated energy leader.

Industries: AI & Analytics, Additive Manufacturing, Blockchain, Cybersecurity, Enterprise Software, Industrial, Upstream, Carbon Management, Renewables & Energy Storage, 

Hydrogen, Ammonia, Low Carbon Fuels, Greenhouse gas measurement, Energy Efficiency, Water & Air Quality

Funding stage: Early Stage Venture, Late Stage Venture

Value-added beyond money: 

  • Sustainability Fund;
  • Digital/Industrial Fund;
  • Prosperity7 Fund.

Number of investments: 68

Number of exits: 6

Notable portfolio companies: Xage Securit, Redex, Dexmat

Contacts: Contact page, LinkedIn

3. Saudi Venture Capital Company

➡️ SVC is one of the prominent investment companies in Saudi Arabia. Founded in 2018, it serves as an affiliate of the SME Bank under the National Development Fund. This firm aims to boost tech-based startups across various stages, from Pre-Seed to Pre-IPO. Plus, SVC invests in private capital funds. They have already supported 43 PC funds which, in turn, have invested in over 700 high-growth ventures.

Industries: Tech-driven sectors

Average check size: Up to $20M

Total funding amount: $2B

Notable portfolio companies: Tabby

Contacts: Contact-us page

4. Wa’ed Ventures

➡️ Wa’ed Ventures is a $500M VC fund powered by Aramco that invests in game-changing tech startups. The firm aims to fuel the growth of a sustainable startup ecosystem in KSA. 

Industries: Agnostic

Funding stage: Seed, Series A, Series B, Series C

Average check size: Up to $20M

Number of investments: 58

Notable portfolio companies: Mighty Buildings, Zid, TerraDrone

Contacts: Contact-us page, Apply-for-investment form, LinkedIn

5. Khwarizmi Ventures

➡️ Khwarizmi Ventures is a progressive investor that bridges the financing gap for entrepreneurs leading early-stage companies in the MENA region.

Industries: FinTech, SaaS, Marketplace, Logistics, PropTech, EdTech

Funding stage: Pre-Seed, Seed, Pre-Series A, Series A, Pre-Series B, Series B

Value-added beyond money: 

The fund offers specialized industry expertise and assists in building top-notch teams through partnerships with recruitment agencies. 

Total funding amount: $63M

Number of investments: 30

Number of exits: 4

Notable portfolio companies: Tamara, Eyewa, POSRocket, Melltoo

Contacts: Contact-us page, LinkedIn

6. Impact46

➡️ Impact46, authorized by the Saudi Capital Market Authority, is an asset management and advisory firm exploring alternative investment options in Saudi Arabia.

Industries: Agnostic

Funding stage: Seed, Series A, Series B, Series C+

Average check size: 500K-1M, 5-7M

Total funding amount: 173,000,000

Number of investments: 35

Number of exits: 5

Notable portfolio companies: Almatar, Bonat

Contacts: Apply-for-funding page, LinkedIn

It’s easy for us to sit here and criticize these entrepreneurs, but they are really doing something great.
Abdulaziz Alomran—Impact46

7. Saudi Technology Ventures

➡️ STV is a Saudi-based VC titan that supports disruptive tech ventures throughout the Middle East. 

Industries: Tech-driven sectors

Funding stage: Seed, Early stage, Late stage 

Total funding amount: $500M

Number of investments: 44

Number of exits: 1

Notable portfolio companies: Careem, Noon, Taaby

Contacts: Contacts, LinkedIn

Related read:

8. DAAL Ventures

➡️ DAAL is a VC fund in KSA that backs ambitious tech-driven companies seeking to expand into the MENA region and break into the Saudi market.

Industries: SaaS, IoT, Big Data, Products, AI, Marketplace, FinTech

Value-added beyond money: 

The fund offers strategic partnerships with their Saudi-based sister companies coupled with assistance in pitching to top-tier inventors worldwide. 

Number of investments: 18

Number of exits: 3

Notable portfolio companies: Eventtus, Paym.es, Fonibo 

Contacts: Contact-us page, Apply-for-investment form, LinkedIn

9. SRMG Ventures

➡️ SRMG Ventures aims to fuel the future of media by investing in the next generation of media startups. 

Industries: Media Creators, Digital Media, Media Enablers & Tools, Immersive & Interactive Entertainment

Funding stage: Seed, Series A, Series B

Value-added beyond money: 

Leveraging its 50 years of media expertise, the firm offers extensive access to talent, cutting-edge technology, and a wide-reaching network. 

Number of investments: 3

Number of exits: 1

Notable portfolio companies: Anghami, Telfaz11

Contacts: Contacts

10. Hala Ventures

➡️ Hala Ventures specializes in early to growth-stage investments, supporting tech-disruptive ventures. Starting as a Financial Horizon Group corporate fund before becoming a visionary venture capital fund, they turn entrepreneurs’ tech ideas into global success stories.

Industries: Tech-focused sectors

Funding stage: Early & Growth stages

Total funding amount: $55M

Number of investments: 30

Number of exits: 5

Notable portfolio companies: Posrocket, Tamara, Vuz, Torod, Telfaz11

Contacts: Contact page, Get-funded-form, LinkedIn

11. Nama Ventures

➡️ Nama Ventures fuels innovation through venture capital in Saudi Arabia. It’s a pre-seed VC fund that helps tech-based ventures get off the ground.

Industries: Agnostic (tech-focused sectors)

Funding stage: Pre-Seed

Number of investments: 32

Notable portfolio companies: Palm.hr, Aumet, Tamara

Contacts: Contacts, Apply-for-funding form, LinkedIn

Not sure if your KPIs are top-notch? Check them out using our growth rate calculator
Сheck here!

12. Riyad Taqnia Fund

➡️ Riyad Taqnia Fund supports technology startups across multiple verticals and geographies.

Industries: E-commerce, Retail, FinTech, Logistics

Funding stage: Seed, Series A, Series B

Number of investments: 21

Number of exits: 2

Notable portfolio companies: Haseel, Foodics

Contacts: Contacts, LinkedIn

13. SEEDRA Ventures

➡️ SEEDRA Ventures empowers early-stage ventures and local businesses to cultivate top-tier innovations, transforming the economy not only in Saudi Arabia but also globally. 

Industries: Marketplace, Entertainment, SaaS, HRTech, Data Analytics, PropTech, FinTech, Enterprise, HealthTech, FoodTech, Logistics, AI, E-commerce 

Funding stage: Pre-Seed, Seed, Series A

Number of investments: 27

Notable portfolio companies: Zid, Noon Academy, Sabbar, Lendo

Contacts: Connect page, LinkedIn

14. Sukna Ventures

➡️ Sukna Ventures is an early-stage investment company in Riyadh. With a sector-agnostic approach, it supports digital transformation ventures across the MENA region, bridging regional impact with global reach.

Industries: Biotech, Gaming / Media & Entertainment, Education, HealthTech, AI/ML, AR/VR, Blockchain, Defense, E-commerce, Enterprise SaaS, Fintech, Marketplaces, Web3, InsurTech, LegalTech

Funding stage: Pre-seed, Seed, Series A, Series B.

Number of investments: 16

Notable portfolio companies: Marn.io, Classera, Aka Virtual

Contacts: Contact page, LinkedIn

15. Vision Ventures

➡️ Vision Ventures is an industry-agnostic VC firm in KSA that invests in early-stage tech ventures across the MENA region for over seven years.

Industries: Agnostic

Funding stage: Pre-Seed, Seed, Series A 

Value-added beyond money: 

Mazaya Vision Program—a set of tools for portfolio companies to unleash their full potential. 

Number of investments: 44

Average number of rounds per year: 21

Notable portfolio companies: Сalo, Rewaa, Rain

Contacts: Apply-for-funding page, LinkedIn

Wrapping up

The current Saudi Arabian investment ecosystem is a booming VC sandbox with high tech, soaring IPOs, and a strong drive to lead in the tech and service economy. To leverage the momentum and secure venture capital in Saudi Arabia, you need to know the rules and have the tools. We can help you with both—explore our pitch deck and financial model services for must-know tips and insights. Or just reach out to our expert team if you don’t want to sweat it.

20 posts

Ruslana

CONTENT WRITER

Hello! I'm Ruslana, a Content Writer at Waveup. Based on my background in marketing research and business analytics, and my current collaboration with the savvy team at Waveup, I'm excited to share my insights and learnings with you.