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More funding for KSA green tech startups: Abu-Dhabi based asset management firm Gulf Capital is set to invest over USD 100 mn in Saudi startups over the next five years in a partnership with the Saudi Research Development and Innovation Authority (RDIA), according to a statement (pdf).
The details: The partnership will invest in Saudi tech startups in the healthcare, healthtech, technology, fintech, energy, renewables, sustainability, and future economies sectors, and help them expand across the Kingdom and further their regional and global expansion, the statement said. The asset manager will also help facilitate the entry of global innovators into the Saudi market, according to the statement.
More on Gulf Capital: The asset management firm — which currently holds some USD 2.4 bn in assets under management — focuses primarily on late-stage control buy-outs, growth capital, private debt and real estate projects in the Middle East region. To date, Gulf Capital has poured SAR 2.2 bn ( cc. USD 586.6) in investments into the kingdom, with Saudi Arabia’s top payment services provider Geidea standing as one of its major investments.
