Riyadh – Sharikat Mubasher: Saudi Arabia and Kazakhstan are teaming up to launch a venture fund aimed at supporting DeepTech startups.

According to a recent press release, public funds from both countries will back the initiative, with plans to draw private investors and expand the fund’s size to $100 million. The fund will target projects in Kazakhstan, Central Asia, Saudi Arabia, the Middle East, and North Africa.

The partnership is expected to help Kazakhstani startups enter the Middle Eastern market while encouraging joint development of DeepTech solutions.

With government involvement, the fund aims to attract private capital through a 1:1 leverage effect, enhancing its impact and supporting market-driven project selection.

DeepTech startups focus on innovations grounded in scientific breakthroughs and advanced technologies.