Riyadh – Sharikat Mubasher: Watheeq Capital, licensed by the Capital Market Authority, announced a partial exit from Rize, a leading PropTech company in Saudi Arabia.
According to a press release, the exit delivered an impressive return of nearly four times the initial investment within just 22 months, achieved through the Watheeq PropTech Venture Fund.
The announcement coincides with Rize successfully closing its Series A funding round, raising SAR 132 million ($35 million). The round was led by Raed Ventures and included participation from prominent investors such as Nama Ventures, Seedra Ventures, Aqaar Platform, Joa Capital, and Hala Ventures.
As an early supporter of Rize, Watheeq Capital participated in the company’s Pre-Seed funding round through the Watheeq PropTech Venture Fund, a Capital Market Authority-licensed venture capital fund focused on high-potential PropTech startups. Despite the partial exit, Watheeq Capital has retained a portion of its stake in Rize, reflecting its continued confidence in the company’s growth trajectory and future success.
Abdullah Al-Muhareb, CEO of Watheeq Capital, said: “We are proud of our partnership with Rize, which represents a leading model in the emerging PropTech sector in the Kingdom. This success reflects the strength of the technical solutions provided by Rize and its ability to meet local market needs and enhance future growth opportunities.”
He also emphasized that past performance does not necessarily reflect the future performance of the fund, while Watheeq Capital remains fully committed to its pioneering role in providing innovative investment opportunities and supporting startups, striving to achieve significant successes and exceptional returns for its investors.
