Riyadh Valley Company, the investment arm of King Saud University and a prominent player in the investment landscape of Saudi Arabia, announced its strategic investment in Flat6Labs’ Startup Seed Fund. This move solidifies its commitment to supporting the growth and development of the region’s vibrant startup ecosystem.
This investment marks a significant milestone in Riyadh Valley Company’s mission to foster innovation, entrepreneurship, and economic growth within the Kingdom of Saudi Arabia. It is part of the company’s broader strategy to identify and partner with initiatives that have the potential to drive meaningful change in the region. The fund enables startups to receive follow-on funding up to SAR 2.4 million and the support and training programs provided by the program for select companies.
The Startup Seed Fund is a closed-ended fund that invests in early-stage startups operating in the technology and innovation sectors within the Kingdom of Saudi Arabia. The fund will adopt a highly diversified, systematic investment plan that aims to reduce the risks faced by venture capital and reduce the administrative and legal costs incurred by early-stage startups. The fund has invested in 20 innovative startups, with an investment value exceeding SAR 15,000,000.
Commenting on this strategic investment, Dr. Khalid Al-Saleh, CEO of Riyadh Valley Company, stated, “Riyadh Valley Company is excited to partner with Flat6Labs’ Startup Seed Fund LP. We recognize the incredible potential and innovative spirit of startups in the region and understand the vital role they play in advancing our economy. This collaboration is a testament to our dedication to providing the resources and support necessary to help these startups thrive and scale their businesses.”
Flat6Labs’ Startup Seed Fund has a proven track record of supporting and accelerating startups across various sectors. With Riyadh Valley Company’s investment, the fund is poised to expand its operations further, reach more entrepreneurs, and substantially impact the region’s startup landscape.
Eyad Albayouk of Flat6Labs commented on the investment and expressed, “We are thrilled to welcome Riyadh Valley Company as a strategic partner in our Startup Seed Fund. This collaboration will undoubtedly enhance our ability to support startups and drive innovation in the Kingdom. We look forward to working together to achieve our shared goal of fostering entrepreneurial success in the country.”
Riyadh Valley Company’s investment in Flat6Labs’ Startup Seed Fund underscores the company’s dedication to advancing the Kingdom of Saudi Arabia’s economic diversification goals and promoting a culture of innovation and entrepreneurship.
