- Saudi Arabia-based VC “8020 Capital” has launched a $10 million accelerator and startup studio fund to invest in and develop emerging tech-driven startups.
- The new fund will focus on founders based in Saudi Arabia and the US who are committed to contributing to the economy and developing business empowerment capabilities.
- Founded in 2022 by Osama AlSalloum, 8020 Capital graduated from the Accelerator and Startup Studio programme in Silicon Valley.
8020 Capital has announced the launch of a $10 million Accelerator and Startup Studio Fund in the Kingdom of Saudi Arabia and the US to fund and develop emerging companies in the field of advanced technologies globally.
The aim of the fund is to support tech startups that are committed to contributing to the economy and developing business empowerment capabilities by taking advantage of the entrepreneurship record of the company's founders, investors and a global network of more than 9,000 founders.
The new fund will help new founders build companies that will improve the quality of life for the world.
Managing Partner and Founder Osama AlSalloum stated that Capital 8020 "was launched to fill a gap in the entrepreneurship ecosystem between emerging startups with a real potential for growth, a thirsty consumer market, and investors who want to diversify their investments in these companies on the other hand."
He added, "We have taken upon ourselves the desire to develop and support the system by moving the founders from the level where they created inspiring startups to raise funds on a larger scale. Then we can introduce them to advanced investors in the later stage to grow, even more, raising the slogan of our vision that we are working to found founders and raise unicorns!"
Moreover, 8020 Capital is the only Accelerator and Startup Studio in the region that has graduated from the VC Lab program, located in Silicon Valley, San Francisco, United States.