Beltone Venture Capital Backs ariika and Lychee’s Saudi Expansion with Five New Stores in Riyadh
Beltone Venture Capital (BVC), the venture capital arm of Beltone Holding, is strengthening its commitment to two of Egypt's leading consumer brands, ariika, the direct-to-consumer digital-led home furnishing company, and Lychee, a pioneer in the healthy food and beverage sector, as both companies prepare to expand their presence in Saudi Arabia with the opening of five new stores in Riyadh.
The expansion includes two new ariika stores and three Lychee outlets, marking a significant milestone in BVC's strategy of supporting Egyptian brands beyond investment by helping them evolve into leading regional businesses.
Ali Mokhtar, CEO of Beltone Venture Capital, said:
"ariika and Lychee represent exactly what we look for: homegrown Egyptian brands with proven profitability, exceptional leadership, and the ambition to redefine their categories across the region. We are long-term partners in building the next generation of MENA consumer powerhouses. With a combined five new stores opening in Riyadh, this is just the beginning."
Khaled Attallah, CEO and Co-Founder of ariika, added:
"Saudi Arabia has always been central to our regional vision. Opening two stores in Riyadh is not just an expansion, it is a statement. We have built a brand that resonates deeply with consumers who value design, quality, and an exceptional experience, and we are confident that ariika will find its home in the Saudi market just as it has across Egypt and Iraq. This is the next chapter, and we are only getting started."
Mohamed Assy, Founder and CEO of Lychee, said:
"We have been building this moment for years. Saudi Arabia is not just another market for us; it is the foundation of our regional ambition. We spent considerable time understanding the Saudi consumer deeply – their rhythms, their tastes, and their expectations – before committing to this expansion. Opening three stores in Riyadh is our declaration that Lychee belongs in this market, and we intend to lead the healthy F&B space here just as we have done in Egypt."
The latest expansion highlights Beltone Venture Capital's commitment to backing high-potential Egyptian companies while enabling ariika and Lychee to accelerate their regional growth and strengthen their footprint in the Saudi market.
