Riyadh Valley Company, the investment arm of King Saud University, announces its investment in Raed Ventures’ third fund (RAED III LP).
Raed Ventures Company is a leading venture capital firm in the Middle East and North Africa (MENA). It invests in the most distinguished startups in the region with emphasis on Saudi Arabia, the United Arab Emirates, and Egypt in sectors including fintech, transportation services, and retail, focusing on software-as-a-service business models. Raed Venture’s third fund will target investments in early-stage technology companies.
In this regard, Dr. Khalid Al-Saleh, the CEO of Riyadh Valley Company, commented: “The investment in Raed Venture’s third fund falls within the scope of Riyadh Valley Company’s investment specialization and contributes to the development of the local knowledge economy through the partnership between educational and research institutions and the business and investment community. The Saudi market has achieved a positive performance in 2023 by 33%, with 125 deals worth over 5 billion SAR.”
Riyadh Valley Company’s investment in the RAED III fund aims to support startups locally and internationally and to build a balanced investment portfolio that supports King Saud University’s goals and the achievement of the Kingdom’s Vision 2030.