Riyadh Valley Company, the investment arm of King Saud University, announces its investment in IMPACT46 Fund III. The Fund invests in technology startups that provide new and innovative solutions capable of transforming and reshaping traditional business models.
The fund focuses its investments on several sectors, including financial technology, e-commerce, and software-as-a-service, spanning various stages of company development, from growth to pre-initial public offering (IPO). The fund primarily targets the Saudi Arabian market and the broader Middle East region.
Dr. Khalid Al-Saleh, the CEO of Riyadh Valley Company, stated, “Investing in IMPACT46 Fund III falls within the scope of Riyadh Valley investment expertise and contributes to the development of the local knowledge economy through partnerships between educational and research institutions, the business community, and investment entities operating in the Saudi Arabian market. The venture capital sector in the Kingdom has witnessed rapid growth during the first half of the current year, 2023, with Saudi Arabia recording the highest venture capital investments in the Middle East and North Africa, amounting to $446 million, representing 28% of the total invested amount. Additionally, the venture capital sector in the Kingdom achieved a compound annual growth rate (CAGR) of 108% from 2019 to 2022, surpassing $1 billion.”
Abdulaziz Al-Omran, Co-founder and CEO of IMPACT46, expressed his satisfaction with Riyadh Valley Company’s support for its fund in IMPACT Fund III. He commented, “We are pleased to have Riyadh Valley’s support for our company fund that focuses on investing in technology companies providing innovative solutions to address social and economic challenges across various sectors. We reaffirm our commitment to seeking exceptional opportunities that deliver substantial returns to our investors. Our previous funds enabled us to invest over SAR 650 million in more than 35 technology startups.”
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- Source: https://mystartupworld.com/riyadh-valley-company-invests-in-impact46-fund-iii/
