– An alliance of investors and GCC-based family offices launched “Waad Investment,” an investment firm targeting a value of SAR 750 million ($200 million).
– Waad Investment is the largest private investment firm dedicated to supporting growth-stage startups in the region.
– The alliance is led by investor Yaser Saeed Alghamdi, founder and Chief Investment Operations Officer of Waad Investment, in collaboration with the AlMajed and AlMisfer family offices.
– Waad Investment emerged from an initiative to enhance the private sector’s role in driving innovation and economic development.
– The firm aims to invest in growth-stage startups and offer a network of connections, mentorship, and guidance to help startups launch and expand locally, regionally, and globally.
– Yaser AlGhamdi expressed optimism about the future of startups in the region, emphasizing the importance of public-private sector collaboration for comprehensive development.
– Waad Investment aims to bridge the financial gap faced by startups, providing financial investment, mentorship, and guidance.
– The alliance reflects GCC family offices’ commitment to positively impacting the entrepreneurship ecosystem by addressing funding gaps and equipping startups with necessary expertise.
– The alliance also seeks to increase employment opportunities and stimulate sustainable economic growth in the region.
– Nasser AlMajed, Managing Director and CEO of Waad Investment, highlighted the goal of changing how family offices invest in startups, emphasizing their expertise in exit strategies, IPOs, and financial solvency.
– The new firm is part of a broader vision to strengthen the innovation and entrepreneurship landscape in the GCC, contributing to a diverse and sustainable economy based on knowledge and technology amidst the region’s technological advancements.
Advisors: Abdulrahman AlJiffry Amal Dokhan Sami Alhelwah Ghormallah Al-Ghamdi Saif Al Maamari
