Saudi-based Khwarizmi Ventures is gearing up to launch its second venture fund, targeting $100–$120 million to invest in early-stage startups across the MENA region.
The fund is expected to close by the end of 2025, with a focus on companies between the Seed and Series A stages.
Speaking to Alarabiya Business, Managing Partner Abdulaziz Al-Turki called it a “golden opportunity” for early-stage investing in MENA. His conviction is backed by strong regional momentum:
“The number of unicorns in MENA has grown from zero a decade ago to eight today. By 2035, that number could reach 60,” Al-Turki said.
This ambitious outlook forms the backbone of the fund’s strategy: getting in early on the startups most likely to join the next generation of regional unicorns.
Saudi-Led, MENA-Wide, and Scale-Ready
Khwarizmi Ventures’ first fund totaled $70 million, with 80% already deployed and the remainder reserved for follow-on investments in its current portfolio. The second fund builds on this momentum, expanding check sizes while maintaining its early-stage thesis.
Though it operates across MENA, Al-Turki emphasized that Saudi Arabia remains the firm’s strategic home base, particularly for:
- Startups founded in the Kingdom
- Companies with clear plans to scale into the Saudi market
The fund will prioritize ventures that have moved past the idea stage, showing early revenue, a developed product, and scalability potential.
With this new fund, Khwarizmi Ventures is doubling down on early-stage innovation in a region it believes is on the cusp of a startup renaissance. If its unicorn predictions prove accurate, MENA could become one of the fastest-growing venture markets globally by 2035.
