Khwarizmi Ventures, one of Saudi Arabia’s rising venture capital players, is launching its second investment fund, aiming to raise between $100 and $120 million. The goal? To supercharge early-stage startups across the Middle East and North Africa (MENA), with a strong focus on Saudi Arabia.
This new fund will target Seed and Series A startups, especially those headquartered in the Kingdom or looking to expand into it.
A Growing Market for Bold Ideas
Abdulaziz Al-Turki, Managing Partner at Khwarizmi Ventures, explained that the region is entering a golden era for innovation. In a recent interview with Al Arabiya Business, he stated:
“Ten years ago, we didn’t have a single unicorn in this region. Now we’ve got eight. By 2035, we expect that number to reach 60.”
This signals a massive shift in the local startup scene. Saudi Arabia is no longer just following global tech trends — it’s starting to set them.
Lessons from Fund I: Backing Bold Founders
Khwarizmi Ventures’ first fund, valued at $70 million, has already been largely deployed:
- Around 80% of that fund went into high-potential startups
- The remaining 20% is for follow-on rounds with existing portfolio companies
This disciplined approach allows them to double down on winning bets and support growth through later funding rounds.
But what are they looking for in a startup?
- ✅ A working product — not just an idea
- ✅ Early signs of revenue
- ✅ Clear plans for scalable, long-term growth
Khwarizmi isn’t interested in pipe dreams. They back founders who are already showing traction and are ready to scale.
Saudi Startups in the Spotlight
The new fund couldn’t come at a better time. The startup ecosystem in Saudi Arabia is buzzing with activity. Government support, maturing consumer markets, and investor appetite have created a perfect storm for new ventures.
Sectors like:
…are all seeing strong growth and investor interest.
Khwarizmi Ventures plans to use this momentum to discover and empower Saudi Arabia’s next generation of unicorns.
A calculated investment in Future Saudi
For entrepreneurs in Saudi and across MENA, this fund represents a massive opportunity. Whether you’re building a next-gen payment solution or disrupting logistics with AI, this could be the boost your startup needs.
More than just capital, Khwarizmi Ventures brings strategic insight, regional expertise, and a clear belief: The future of tech in the Arab world is being written right now, and it’s big.