28 February 2024 Riyadh Valley Company announces its investment in BEENEXT ASIA FUND2, an early fund managed by BEENEXT

Riyadh Valley Company, the investment arm of King Saud University, announces its investment in BEENEXT ASIA FUND2, a fund managed by BEENEXT. 

The BEENEXT ASIA FUND2 focuses on investing in emerging technologies that have the potential to transform and disrupt traditional business models. Beenext intends to invest in early-stage companies in Southeast Asia and India, including Seed Stage, Pre-Series A, and Early Stage.

Dr. Khalid Al-Saleh, CEO of Riyadh Valley Company, stated, “Investing in BEENEXT ASIA FUND2 aligns with Riyadh Valley’s Company investment focus and contributes to the development of the local knowledge economy through partnerships between educational and research institutions, the business community, and investment. The venture capital sector has witnessed rapid growth in Southeast Asia and India, driven by the adoption of modern technologies and unique solutions. Venture investments in Southeast Asia reached $17 billion in 2022, while in India, the investment volume reached $23 billion.”

Riyadh Valley’s Company investment in Beenext aims to support local and global startups and build a balanced investment portfolio that aligns with the goals of King Saud University and the Kingdom of Saudi Arabia’s Vision 2030 in the knowledge economy sector.