An alliance of investors and GCC-based family offices has launched Waad Investment, aiming for a targeted value of SAR 750 million ($200 million) dedicated to supporting growth-stage startups in the region.
The initiative is led by Yaser AlGhamdi, founder and Chief Investment Operations Officer, in collaboration with the AlMajed and AlMisfer family offices.
The alliance showcases the GCC family offices’ commitment to positively impacting the entrepreneurial ecosystem and startups. It aims to equip startups with the necessary expertise and tools while addressing funding gaps, increasing employment opportunities, and stimulating sustainable economic growth in the region.
“The company will bridge the financial gap many startups face and will offer comprehensive support that includes financial investment, mentorship, and guidance,” said AlGhamdi.
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”.
The new firm is part of a broader vision to reinforce the innovation and entrepreneurship landscape in the GCC, as family offices and investors are striving to generate a diverse and sustainable economy based on knowledge and technology, especially given the significant technological advancements the region is experiencing.
