Riyadh – Sharikat Mubasher: Palm Ventures, a leading investor in MENA startups, has closed a $30 million fund to support early-stage businesses in the region.

According to a press release, part of the fund will also target U.S.-based AI startups, reflecting the firm’s focus on global technological advancements.

The investment will prioritize AI, fintech, and business solutions—key sectors driving digital transformation. Startups will receive both capital and strategic support to scale their operations and strengthen the digital economy.

Founded in 2014, Palm Ventures has backed 40 startups across various industries and partnered with government entities to foster innovation. Between 2020 and 2024, it invested in 20 startups across MENA and U.S.-based AI firms.

As MENA’s startup ecosystem expands, Palm Ventures aims to connect local companies with global innovations, particularly in AI, to boost competitiveness. This initiative aligns with the region’s growing focus on technology-driven economic growth, reinforcing the firm’s commitment to long-term impact through investment and international collaboration.