Seven Best Venture Capital Firms Located in Saudi Arabia

Last Updated on November 8, 2023 by Ameer Hamza

From the Middle East, Saudi Arabia ranks second in top countries for venture capital investments. Overtaking Egypt in 2021, the country has experienced over 270% increase in capital year-over-year. The trajectory will only increase in 2022 as more startups get financing from investors and the government alike. For Saudi Arabia, some of the popular sectors that are invested in by venture capital include transportation, e-commerce, financial technology, and education, among others.

Venture capital (VC) are investment companies that fund and mentor startups and early-stage emerging companies. VC firms back startups intending to get a good return on their investment. 

Top VC firms in the Kingdom of Saudi Arabia

Saudi Arabia’s fast growth in the Venture Capital ecosystem can be traced back to 2018. The Saudi Arabian government sought to improve entrepreneurship and launched two fund ventures. Venture capital activity has recorded only steady growth in the country ever since. If you are looking for the best venture capital firms to fund your startup in Saudi Arabia, a detailed list has been created.

Saudi Venture Capital Company {SVC}

SVC is a government VC established in 2018 by Monshat as part of the Financial Development Sector Program. It aims to stimulate venture investments by investing in funds as well as co-investing with angel groups to minimize financial gaps for startups and SMEs.  

Impact46

As a VC firm, Impact46 specializes in alternative investment opportunities in Saudi Arabia. Impact46 invests in seed and growth stages, enabling entrepreneurs to make a unique impact. The VC fund is sector agnostic, meaning it does not invest in only a specific industry

Swicorp

Swicorp is located in several areas in the Middle East, and Switzerland. It focuses on the renewable energy, education, consumer, and infrastructure sectors. Swicorp has closed over $17 billion across 120 startups. The VC firm provides solutions in the spheres of Investment Banking, Private Equity, and Asset Management for startups and businesses.

Cura Company

Cura Company invests in and builds E-commerce startups to lead a customer-focused retail revolution in the GCC. It is the first VC firm dedicated solely to E-commerce in Saudi Arabia. Balleh.com and Sakrobe are two of the startups it has built and invested. 

Cornerstone Ventures

This VC firm focuses on automotive, food and beverage, healthcare, and service sector. Based in Jeddah, Cornerstone Ventures provides strategic consultation and growth capital to SMEs. The VC firm targets early-stage SMEs to transform them into sustainable value creators.

DAAL Ventures

DAAL is a VC firm that connects promising IT startups with world-class investors. Its primary industries include AI, SaaS, Big Data, Fintech, etc. DAAL seeks to nurture the growth of IT companies on an international stage. For emerging companies seeking to expand into the Saudi market, DAAL provides a platform to access opportunities unique to the IT sector.

Riyadh Angel Investors

RAI is an angel-investing group that aims to support and sustain technology and digital entrepreneurship in the MENA region. It invests in locally grown seed and early-stage ventures that disrupt with scalable technologies. With over 50+ members, RAI also provides mentorship, network, and access to business advice to its investees.

What does the future for VC funding look like?

In 2021 alone, venture activity was funded with about $540m across 139 deals. This was the largest growth in the country’s VC history. The year 2022 is expected to see an increase in venture capital growth within Saudi Arabia. Earlier this year, over $600m has come from foreign investment for startups in the kingdom. For every entrepreneur or an aspiring one, now is the time to make your move.