Sharaka Financial, headquartered in Riyadh, has announced the launch of its first investment fund, Sharaka Ventures Fund, targeting high-growth tech startups in the Middle East and North Africa (MENA) region. The fund focuses specifically on investing in early-stage tech companies, particularly in fintech and business software sectors, which are still in their early stages and seeking investments in the
early rounds.
In its recent statement, Sharaka Financial expressed optimism about the future of entrepreneurship and venture capital in Saudi Arabia and the region. The company highlighted a significant increase in demand for tech startup funding, with demand rising twelvefold over the past five years, from SAR 435 million in 2019 to SAR 5.2 billion in 2023.
Sharaka Financial also emphasized its confidence in the Saudi market, which boasts the largest GDP in the Middle East and North Africa, and has seen remarkable growth in venture capital investments, at nearly double the growth rate of other countries in the region.
Faris Al-Rashed, founder and CEO of Sharaka Financial, stated that the company’s strategy is centered on developing specialized investment products for both tech and non-tech startups. Al-Rashed added: “Our goal is to meet the growing demand for tech investments and private equity, leveraging our team’s expertise in governance and relationship building, which are just as important as selecting and managing investments in startups.”
Sharaka Financial was established at the end of 2023 in Saudi Arabia and is licensed by the Saudi Capital Market Authority to manage investments. Its strategy focuses on venture capital and private equity funds in Saudi Arabia and the MENA region.
Source: entarabi.com
