RIYADH: The Saudi investments of Riyadh-based RAED Ventures portfolio have risen to 80 percent, from 20 percent in 2018, according to its CEO.
Speaking in a panel on the third day of the Future Investment Initiative forum in Riyadh, Omar Al-Majdouie explained that the surge in investment was mainly due to the Saudi Vision 2030 and the initiatives that kicked off in 2017 to support it.
“If you tell me how much your portfolio is exposed to Saudi Arabia, it was 20 percent in 2018. Now, it’s more than 80 percent in 2023. So, this change is drastic and in a very short period,” said Al-Majdouie.
According to Al-Majdouie, the sudden spurt in numbers was caused by two reasons. One, people in the Kingdom and founders of RAED Ventures started betting on entrepreneurship and floated new companies.
The second is this emerging trend in the Middle East to relocate to the Kingdom and establish their regional headquarters here.
These factors have created momentum in the Kingdom and built an investment pipeline that continues to build compared to other countries in the region.
