Wadi Jeddah, the investment arm of King Abdulaziz University, is planning to launch a $10 million venture fund in early 2027, according to multiple reports in the local press.
The fund is set to invest in companies throughout Saudi Arabia, though it will also consider backing overseas startups looking to enter the country.
Target areas include AI, biotech and pharmaceuticals, smart cities and mobility, food, advanced manufacturing, and advanced materials.
Wadi Jeddah will back the fund and seek external LPs, with a long-term plan to double the fund’s size over the next decade.
The fund’s success will, at least in part, be measured in its ability to help bridge the valley of death between innovation and commercial investment.
Wadi Jeddah already operates an incubator that has invested SAR1 million, split equally among 10 startups.
