- Saudi Arabia’s Riyadh Valley Company (RVC), the investment arm of King Saud University, has invested an unknown amount in Flat6labs’ Startup Seed Fund (SSF) to back early-stage Saudi startups.
- The SSF will focus on fields such as fintech, healthtech, edtech, and tourism.
- RVC’s investment in SSF aims to support local and global startups and build a balanced investment portfolio that supports the goals of King Saud University.
Riyadh Valley Company, the investment arm of King Saud University, announces its investment in the venture capital fund (Flat6labs Startup Seed Fund “SSF”) by Flat6labs, a leading company in the Middle East and North Africa region.
The Flat6labs SSF fund invests in early-stage companies, focusing on Saudi Arabian startup founders in several technology fields, including financial technology, health, education, and tourism. The fund will also provide dedicated support to Riyadh Valley Company, aiming to enhance the innovation ecosystem at King Saud University by offering guidance, strategic direction, and building investment opportunities for investors, as well as providing specialised training for its associates.
Dr. Khalid Al-Saleh, CEO of Riyadh Valley Company, stated, “Investing in the Flat6labs SSF fund falls within the investment scope of Riyadh Valley Company and contributes to the development of the local knowledge economy through partnerships between educational and research institutions, the business community, and investment. This operates in the Saudi Arabian market and locally, where the Kingdom achieved the highest growth in venture capital funding in the Middle East and North Africa region, with a total investment of 987 million Saudi riyals, representing 31% of the invested capital in the region in 2022.”
Riyadh Valley Company’s investment in SSF aims to invest in local and global startups and build a balanced investment portfolio that supports the goals of King Saud University and achieves the targets of Saudi Vision 2030 in the knowledge economy sector.