Riyadh - Sharikat Mubasher: Riyadh Valley Company, the investment arm of King Saud University, announced its strategic investment in the MEVF IV fund, managed by Middle East Venture Partners (MEVP)— a leading venture capital firm that invests in early and growth-stage technology startups.
Through this investment, Riyadh Valley aims to foster local and global startups while building a balanced and diversified investment portfolio, the company announced in a recent press release.
MEVP, which focuses on startups led by talented entrepreneurs across the Middle East and North Africa (MENA) region, stands as one of the region’s largest and most established venture capital firms with over $300 million in assets under management (AUM).
Khaled Al-Saleh, CEO of Riyadh Valley Company, stated that the investment in MEVP’s MEVF IV fund aligns with the 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,” he said.
Meanwhile, Walid Mansour, Co-CEO of MEVP, commented: “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.”
The investment 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.
