Riyadh – In an interview with Al Arabiya, Mohammed Alzubi, Founder and Managing Partner at Nama Ventures, announced that the fund has received a license from the Saudi Capital Market Authority (CMA), making it the first licensed foreign venture capital fund in the Kingdom.
Alzubi explained that the $32 million fund has invested in 39 tech startups, including Saudi companies such as Salla, Tamara, and Rize, in addition to Silicon Valley-based startups, one of which was acquired by NVIDIA.
He emphasized that the fund focuses on early-stage investments and targets sectors like FinTech and e-commerce, favoring transaction-based business models. He also noted that one of the key elements they look for in startups is a well-rounded founding team.
Regarding the current investment climate, Alzubi considered periods of economic challenges as fertile ground for building strong tech companies, reaffirming their commitment to supporting entrepreneurs in the region.
Nama Ventures Capital Co. will continue the launch of its flagship funds, alongside a suite of Shariah-compliant vertical investment vehicles, targeting high-growth startups across Saudi Arabia, the MENA region, and selected international markets.
His Royal Highness Prince Fahad bin Sultan bin Fahad Al Saud, Chairman and General Partner at Nama Ventures, described the license as a clear reflection of Saudi Arabia’s economic and regulatory transformation under Vision 2030, which is turning the Kingdom into a thriving global hub for innovation and entrepreneurship.
Co-founder and Managing Partner Mohammed AlZubi emphasized that this move is more than regulatory compliance—it’s a strong affirmation of Nama’s alignment with the Kingdom’s ambitions.
