The Kingdom of Saudi Arabia is accelerating its transformation from oil-economy to innovation hub, and venture capital is playing a starring role.
From Riyadh to Dhahran, local and regional investors are backing tech, deep-tech, gaming and growth-stage companies with fresh capital, strategic support and global ambition. Here we highlight the most active, credible VC firms fueling the Kingdom’s entrepreneurial ecosystem — complete with verifiable data on fund size, stage, focus and landmark portfolios.
Why this matters?
Saudi Arabia’s Vision 2030 agenda is driving diversification, digitalization and localization of technology.
As the domestic ecosystem matures, the demand for growth-stage and early-stage funding is increasing. According to recent research, the regional growth-stage funding gap remains significant. STV+1, that creates an opportunity for VC firms to step in — and many are doing just that.
Highlights from the investment landscape
Among the leading players:
- STV (Saudi Technology Ventures) is often cited as the largest tech-focused VC fund in the MENA region. It began with a committed capital base of around USD 800 million and recently launched a USD 100 million non-dilutive vehicle for Saudi tech startups, aligning with the Kingdom’s push for founder-friendly financing. Inc. Arabia English – en.incarabia.com+1
- Wa’ed Ventures, the VC arm of Saudi Aramco, has a USD 500 million fund dedicated to investing in tech startups that help localise global innovation, with ticket sizes up to USD 20 million. Lucidity Insights+1
- Nama Ventures is making waves in the seed and early stage with a Saudi-based fund (SAR 120 million) targeting technology startups, particularly in the MENA region. Wikipedia
- Sanabil Investments, backed by the Public Investment Fund (PIF), is operating in the growth/late-stage space with strategic capital allocation and leading large rounds.
- Other noteworthy names include deep-tech backer Riyadh Valley Company, gaming & consumer specialist IMPACT46, ecosystem-builder Saudi Venture Capital Company (SVC), and gaming-focused giant Savvy Games Group (PIF).
What the data shows?
Across the top firms covered here:
- Stage focus ranges from angel/seed (early-stage) to growth and late-stage, with many combining multiple growth horizons.
- Focus sectors include AI, marketplaces, fintech, SaaS, consumer tech, gaming and localisation of global platforms.
- Fund sizes & AUM vary: some publicly report hundreds of millions (e.g., STV ~USD 800M; ‘Wa’ed‘ USD 500M) while others maintain confidential AUMs but are clearly active. MENAbytes+1
- Portfolio evidence: Wa’ed’s investment in UK-based AI cloud infrastructure start-up ‘Ori ‘underscores its drive into high-end tech in KSA. ori.co
- Many firms actively align with national priorities — e.g., localization of technology, Saudi talent development, and Sharia-compliant investment models.
Why these firms stand out
- Local depth + global ambition: These VCs are deeply rooted in the Kingdom’s ecosystem yet open internationally, bringing global networks and doubling as strategic investors.
- Diversified sector focus: They are not only funding fintech or marketplaces but also deep-tech, gaming, AI infrastructure, and enterprise SaaS — signalling maturity in the ecosystem.
- Government & institutional backing: Many are backed by major institutions (PIF, Aramco, Saudi Telecom, NTDP) which brings legitimacy, capital and follow-on deal confidence.
- Structured for scale: From non-dilutive funds (STV) to ticket sizes up to USD 20M (Wa’ed) to ecosystem fund-of-funds (SVC), the infrastructure is scaling to meet founder and market needs.
What this means for founders & ecosystem players
- Founders can access a broad spectrum of funding right in the Kingdom — from seed to late stage — reducing reliance on regional hubs.
- International tech companies seeking to localise or expand into Saudi Arabia now have strategic VC partners versed in localisation and regulatory alignment.
- Content & media professionals should note the strong trend toward AI, gaming and SaaS — sectors that align with national digital ambitions and are attracting capital.
- Policy & ecosystem stakeholders should recognize that capital availability is improving, but gaps remain — particularly in pre-seed and Series A for certain verticals.
Quick takeaway
Saudi Arabia’s VC ecosystem is fast-maturing. With over 25 firms actively deploying capital, backed by institutional muscle and aligned with ‘Vision 2030‘, the Kingdom is positioning itself as a startup capital of the MENA region. The next wave of unicorns may well graduate from Riyadh and Dhahran — and they won’t just be local, they’ll be global.
For founders, investors and content creators alike, understanding who these 25 firms are, what they focus on and how they deploy capital can unlock a wealth of opportunity.
Use the full research list (top 24 with verified fund sizes and sample portfolios) as your map to navigate Saudi’s venture landscape in 2025 and beyond.
