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The Saudi-based Venture Capital fund investing in early-stage startups (SEED through Series A) with scalable potential in the MENAP region Khwarizmi Ventures(KV), announced the first closing of its first fund at an oversubscribed $63M, backed by a broad lineup of high-profile private investors and family offices.
Through smart and impactful investment and hands-on resource-sharing methodology, Khwarizmi aims to be the preferred partner of exceptional entrepreneurs in building disruptive startups across MENA. The fund has established vast networks and rich experiences in the region and is pursuing scalable opportunities and novel ideas to solve the problems of today’s ever-changing world.
The Saudi-based VC has spotted and invested in numerous innovations this year across industries and geographies. Khwarizmi Ventures participated in major rounds in FinTech with Buy Now Pay Later solutions provider Tamara, raising a $6M SEED round, and integrated virtual POS provider POSRocket, raising a $5M Series B. Other investments were centered around the movement of products, with Egypt-based B2B marketplace Fatura and LastMile delivery startup Bosta.
Based in Saudi Arabia with experience and access to Europe, North America, North Africa, and the rest of Asia, the KV team is led by Yasser AlKadi as Founding Partner and Abdulaziz Al-Turki as Managing Partner. The enablement-driven fund works with a respectable group of leading advisors in the region comprising experienced founders and CEOs. By “Enabling Algorithms That Will Change the Future” and aiding foremost companies of tomorrow in accelerating the reach to their full potential, KV not only provides the needed growth capital but more importantly the vital support system for scaling the next generation of innovations. Founding Partner Yasser AlKadi highlighted “Khwarizmi Ventures takes an empathetic entrepreneur-centric approach in enabling the next generation of MENA startups, with an aim to support founders beyond capital by leveraging our vast network and rich expertise.”
The current sector-agnostic firm started its activity in 2018 as a corporate VC, investing at the very early stages of anticipated startups in the region including eyewa, the UAE-based online eyewear store, and TruKKer the on-demand trucking platform, and is now closing its first fund as an institutional VC aiming to tap into various industries. The founder-focused firm has also backed a wide group of founders beyond the local regional scene from the farthest end of North Africa (Moroccan, Algerian, Egyptian), crossing the Middle East (Jordanian, Saudi, Bahraini), all the way to Southeast Asia (Indian, Singaporean, Pakistani). Managing Partner Abdulaziz Al-Turki concluded “We are on a mission to back exceptional entrepreneurs who aim to improve the lives of MENAP communities by leveraging the power of technology. Once we invest in a company, we become their supporters in their expansion and growth journey. We’d love for our portfolio companies to think of us as an extension of their teams when tackling matters like expanding to the Saudi market,
connecting to strategic partners, recruiting and growth hacking, and securing late-stage funding.”
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