An alliance of investors and GCC-based family offices launched Waad Investment, an investment firm with a targeted value of SAR750 million ($200 million) dedicated to supporting growth-stage startups. The alliance is led by investor Yaser AlGhamdi, the founder and Chief Investment Operations Officer of Waad Investment, in collaboration with the AlMajed and AlMisfer family offices.

Why it Matters? The alliance fosters the role of the private sector in supporting the startup’s ecosystem and providing more funding sources to startups.

More to Know:

• The alliance is led by investor Yaser AlGhamdi, the founder and Chief Investment Operations Officer of Waad Investment.
• Several family offices from GCC backed the firm, including AlMajed and AlMisfer.
• The alliance said that Waad Investment emerged from an initiative to foster the role of the private sector in driving innovation and economic development in the region.

Related Comments:

• Yaser AlGhamdi, the founder and Chief Investment Operations Officer, eloquently expressed his optimism about the future of startups in the region, emphasizing the importance of collaborating between public and private sectors to achieve comprehensive development. He stated, “The company will bridge the financial gap many startups face and offer comprehensive support that includes financial investment, mentorship, and guidance.”
• Nasser AlMajed, Managing Director and CEO of Waad Investment commented, “The alliance aims to change the rules of how family offices invest in startups, and to reassure the entrepreneurial ecosystem that family offices possess the expertise in exit strategies, IPOs, and financial solvency to lead the tech scene”.