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16-02-21
Saudi Arabia: Nuwa Capital closes 75 percent of its new USD100M flagship fund
(MENAFN)Nuwa Capital ended 75 percent of its new USD100 million flagship fund, with the majority of investors coming from Saudi Arabia.
The Nuwa Ventures Fund I (NVFI) set a target to empower major amounts in leading technology startups from across speedily improving markets in the Middle East and North Africa, in addition to neighboring countries like Turkey and Pakistan, and the Sub-Saharan Africa region.
Arab News quoted Khaled Talhouni, managing partner of Nuwa Capital as saying that a significant amount of the funding would be coming from Saudi family businesses and groups.
He further stated that “I can easily say a plurality of our investors are Saudi … our anchor investor is the Al-Faisaliah Group. A big part of this firm is deeply rooted in Saudi in multiple ways.”
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