Riyadh Valley Company, the investment arm of King Saud University, announces its investment in MEVF IV managed by MEVP.
Founded in 2010, MEVP is a leading venture capital firm that invests in early and growth-stage technology startups led by talented entrepreneurs across the Middle East and North Africa, with particular focus on the Gulf Cooperation Council (GCC) countries and the Arab Mashriq region. With over USD 300 million in assets under management, MEVP stands as one of the region’s largest and most established venture capital firms.
In this regard, Dr. Khaled Al-Saleh, CEO of Riyadh Valley Company, commented on the partnership: “The investment in MEVP’s MEVF IV fund aligns with Riyadh Valley Company’s investment strategy and directly contributes to the development of the knowledge-based economy. This fund particularly targets the technology sector with a strong emphasis on fintech innovations. Investors in Saudi Arabia and the United Arab Emirates have demonstrated significant interest in these sectors, driven by their strategic focus on digital transformation and the development of advanced fintech solutions.“
Walid Mansour, Co-CEO of MEVP, remarked on the collaboration: “We are thrilled to welcome Riyadh Valley Company as an investor in our fourth fund. This investment reflects our commitment to reinforcing MEVP’s presence in Saudi Arabia and accelerating our deployment in the Kingdom’s rapidly growing technology ecosystem. We look forward to supporting innovative Saudi entrepreneurs and contributing to the nation’s digital transformation journey.”
Riyadh Valley Company’s investment in MEVF IV aims to support promising local and international startups while building a balanced and diversified investment portfolio. This aligns with King Saud University’s broader objectives and contributes meaningfully to achieving Saudi Arabia’s Vision 2030 goals within the knowledge-based economy sector.