KAUST and the Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank Group, have recently established the Beacon I Venture Fund. The Fund will provide venture capital funding for high-tech startups located in Saudi Arabia and lead early-stage financing rounds attracting local investors and international venture capitalists.
The new fund was announced during the Arabian Tech Tour which was held at KAUST beginning of the month.
In collaboration with Anfaal Capital, the initiative will promote and foster the development of the venture capital market in Saudi Arabia.
- Read more about the Beacon I Venture Fund.
- Read more about the KAUST Innovation Fund.