Riyadh Valley Company – The investment arm of King Saud University – announced its investment in Oryx Fund subsidiary of Hambro Perks company, which specialized in Venture capital.
The Oryx Fund is a $50m venture fund focused on backing early-stage start-ups across the Middle East and North Africa, with a particular focus on FinTech, health technology and education technology. The fund has attracted investment from a number of renowned regional and international investors, including Riyadh Valley Company (RVC), Public Investment Fund’s Jada Fund of Funds, Saudi Venture Capital Company. This investment comes within the framework of Riyadh Valley Company’s strategy to invest in emerging companies locally and internationally to build a balanced investment portfolio to achieve King Saud University goals and contribute to the knowledge development economy of Saudi Arabia.
Dr. Khalid Al-Saleh, the CEO of Riyadh Valley Company said:” The growth in local VC activities has significantly increased in recent years and Saudi startups were able to attract funding despite the Coronavirus pandemic. Our investment in Oryx fund is directed to further support the entrepreneurship scene is Saudi Arabia and bridge the gap in pre-seed and seed stage funding to enable the commercialization of innovation in universities and technology hubs across the region. Moreover, as Oryx fund enjoys a globally experienced team, we trust that it will be able to provide valuable guidance and network to Saudi startups and Saudi Entrepreneurs to expand internationally.”
Hambro Perks is an international venture firm and asset manager with a diversified portfolio and a growing investment management platform focused on technology and biotechnology investments. Hambro Perks has offices in London, Guernsey, Abu Dhabi and Riyadh.