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Top VC Firms in Riyadh Driving Vision 2030 Startup Growth

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Top VC firms in Riyadh fuelling Vision 2030 startups

Saudi Arabia’s venture capital (VC) landscape has undergone a dramatic transformation. In H1 2025, startups raised $1.34 billion, a 342% year-on-year surge, positioning Riyadh as the epicentre of Middle Eastern venture capital.

For founders in London, Riyadh, and global markets, understanding Riyadh’s VC ecosystem is essential. Unlike Western hubs where private VC dominates, Saudi Arabia’s model blends government-backed capital, sovereign wealth funds, corporate venture arms, and family offices. This hybrid system, anchored by the Public Investment Fund (PIF), ensures that funding is aligned with Vision 2030 priorities, from AI to climate tech and industrial innovation.

In this blog, we profile the top VC firms in Riyadh, explain how capital flows through the ecosystem, highlight 2025 trends, and provide a practical playbook for founders aiming to raise venture funding in the Kingdom.

How Riyadh’s VC Ecosystem Works

Saudi Arabia’s venture capital system is unique:

  1. Riyadh VC ecosystem including STV, Raed, Wa’ed, Impact46, and SVCPIF as cornerstone investor – Deploys capital directly (e.g., Lucid Motors) and indirectly through funds like STV and SVC.

  2. SVC (Saudi Venture Capital Company) – Government LP fund with $2bn+ committed to Riyadh VC funds.

  3. Corporate VCs – Aramco’s Wa’ed Ventures, STC Ventures, SABIC Ventures fund sector-specific deep tech and climate tech.

  4. Independent VCs – STV, Raed Ventures, Impact46 act like traditional funds but are often PIF-anchored.

  5. Family offices – Al Rajhi, Olayan, Al-Faisal families invest directly in fintech, AI, industrial, and mobility.

Top VC Firms in Riyadh (Profiles)

1. STV (Saudi Technology Ventures)

2. Raed Ventures

3. Wa’ed Ventures (Aramco Corporate VC)

4. Impact46

5. Saudi Venture Capital Company (SVC)

6. STC Ventures

  • Corporate VC of Saudi Telecom.

  • Focus: digital infra, AI, cloud, and smart cities.

7. Vision Ventures

8. Family Offices

  • Al Rajhi: fintech and AI.

  • Olayan: mobility and industrial tech.

  • Al-Faisal: biotech and education tech.

Riyadh VC Funding Outlook for 2025–2026

  • How Riyadh venture capital ecosystem works under Vision 2030Funding growth: Saudi VC market expected to exceed $3bn annually by 2026 (MAGNiTT/SVC projections).

  • Sector focus: AI, climate tech, industrial automation, mobility, and healthtech.

  • Family office expansion: More direct VC participation, especially in AI and fintech 2.0.

  • Internationalisation: Riyadh VCs syndicating with London, US, and Singapore investors to bring global scale.

International Co-Investment

  • STV + global VCs: Careem’s $200m round co-led with international funds.

  • Raed Ventures + Mubadala: joint fintech investments across GCC.

  • Impact46 + US funds: SaaS and logistics scale-ups.

Insight for Western founders: Riyadh VCs are syndication-friendly. Start with a Saudi anchor investor, then expand the round with London/US co-investors.

Riyadh VC Ecosystem by Stage 

Stage

Active VCs

Ticket Size

Priority Sectors

Seed

Raed, Vision Ventures

$0.5–2m

fintech, SaaS, consumer

Series A/B

STV, Impact46, Wa’ed

$5–20m

AI, clean energy, industrial

Growth

SVC (via LPs), family offices, PIF co-invest

$20m+

deep tech, giga-project tech

Founder’s Playbook for Raising Capital in Riyadh

  • Set up locally (MISA license or JV).

  • Align with Vision 2030 verticals (AI, climate tech, mobility, biotech).

  • Run a PoC first (with Aramco, NEOM, ministries).

  • Approach sector-aligned funds (Wa’ed for industrial, STC for AI/telecom).

  • Expect hybrid rounds (part grant, part equity).

  • Leverage syndication with London/US investors.

Case Example – Tamara (Saudi Unicorn)

  • Founded in Riyadh, now valued $1bn+.

  • Funded by Raed Ventures, STV, and global investors.

  • Pathway: local VC anchors → international syndicate → unicorn status.

❓ Frequently Asked Questions (FAQ)

Q1: Who are the biggest VC firms in Riyadh?

STV, Raed Ventures, Wa’ed, Impact46, and SVC lead Riyadh’s venture capital ecosystem.

Q2: What sectors do Riyadh VCs invest in?

Priority sectors: AI, clean energy, industrial tech, fintech 2.0, logistics, healthtech.

Q3: Do Riyadh VCs co-invest with international funds?

Yes, Riyadh funds frequently syndicate with London, US, and regional investors.

Q4: Do foreign startups need a Saudi entity?

Yes, most Riyadh funds require incorporation or local partnership.

Q5: How is Riyadh’s VC market different from Silicon Valley?

Saudi blends government anchor capital (PIF/SVC) with VC, ensuring alignment to national projects. Western markets rely more on private LPs.

Conclusion 

Riyadh has become the capital of venture capital in the Middle East. Anchored by government funds like PIF and SVC, strengthened by corporate venture arms (Wa’ed, STC), and energised by independents like STV, Raed, and Impact46, it offers startups not just capital but market access and credibility.

For London and international founders, the strategy is clear: localise, align with Vision 2030, secure a PoC, and target the right Riyadh VCs by stage and sector. With Saudi startup funding projected to top $3bn annually by 2026, now is the time to anchor your expansion in Riyadh.

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