Venture capital is a form of financing that provides capital to early-stage, potentially high-growth companies in exchange for an equity stake in the business. Unlike other forms of capital, venture capital is not always in monetary form, these organizations provide resources, networking opportunities, and other expert support to entrepreneurs and startups in the country.
Venture capital has become a popular form of financing in Saudi Arabia in recent years due to the government’s efforts to diversify the economy and promote entrepreneurship. In 2021 alone, venture capital provided to new firms in the country was more than SAR 630 million.
The government’s support for innovation and entrepreneurship, combined with a growing number of successful startups and venture capital firms, are helping to create a thriving ecosystem for entrepreneurs. This in turn is expected to attract even more investors, both local and international, to the country, further fueling the growth of the venture capital industry. This is already evident as new statistics show that Saudi Arabia has surpassed India as the fastest growing economy in the world, with a GDP of 7.6 percent in 2022.
Now is the perfect time to be an entrepreneur and launch a technology startup in Saudi Arabia. The government’s support for entrepreneurship and innovation, combined with the rapidly growing technology market, create a favorable environment for startups to thrive and due to this popularity Nama Ventures was created. Nama Ventures is a venture capital fund focused on fueling tech innovation in MENA, particularly in Saudi Arabia. From the earliest stage, we help tech startup founders raise capital by providing funding and mentorship, as well as access to a network of industry experts and potential partners. Our goal is to help entrepreneurs turn their ideas into successful businesses that drive economic growth and create jobs.
If you are an entrepreneur looking to launch a technology startup in Saudi Arabia, Nama Ventures can help you access the funding and resources you need to succeed. Please apply here.