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CAIRO: Riyadh Valley Co., the investment arm of King Saud University, has invested an undisclosed amount in the new Total Growth Platform launched by STV, the largest independent technology investment firm in the Middle East and North Africa region. The investment reflects Riyadh Valley Co.’s strategy to invest in a diverse portfolio that aims to achieve the university’s
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RIYADH: Saudi Arabia’s sovereign wealth fund is backing a Middle East venture-capital fund run by Hambro Perks Ltd., joining the trend for state investors in the region to put money into early-stage companies, according to Al Arabiya citing Bloomberg.
The Public Investment Fund (PIF) of Saudi Arabia is an anchor investor in the $50 million Oryx Fund, which will target fintech, health and education technology startups across the Middle East and North Africa (MENA), according to Dominic Perks, co-founder of London-based venture firm Hambro Perks.
Oryx is the first Western venture-capital fund to get backing from PIF, which made the investment through its Jada unit, according to a statement from Hambro Perks. Other investors include Saudi Venture Capital Co. and Riyadh Valley Co.
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