MEVP (Middle East Venture Partners) has announced that Rabih I. Khoury, General Partner & Chief Exit Officer, will be relocating to Riyadh to support the growth of the MEVP VC franchise in the Kingdom.
This is a part of its increased commitment to the growth of the Technology and Venture Capital (VC) ecosystems in Saudi Arabia.
Khoury will be joining the Saudi Team, which is headed by Sarrah Al-Juaid (Managing Director) and Ali Al-Majthoob (Managing Director).
Khoury said: “Saudi Arabia is one of MEVP’s most important markets. We are confident in the value creation potential in Saudi Arabia, driven by a well-funded VC ecosystem, attentive and dynamic government support, and a strong pipeline of technology IPOs.
“We will continue to invest in Saudi Arabia and grow our local team to expand our presence and partner in the Kingdom’s exciting growth.”
Note that MEVP has been investing in the Saudi VC ecosystem since 2012, with notable portfolio companies such as Awaed, Clinicy, Hala, HyperPay, Nana, and OTO.
In addition, several of MEVP’s portfolio companies already operate in Saudi Arabia, including leading technology ventures such as Anghami, Altibbi, Basma, Invygo, Lyve, Shahiyah, Stake, TheLuxuryCloset, Trukker, Wego, YouGotaGift, and Zest Equity.
Furthermore, on 17 December 2024, Saudi Venture Capital (SVC) announced its investment in Middle East Venture Fund IV (MEVF IV), MEVP’s 4th MENA flagship fund. MEVF IV will support technology startups with high growth potential that will have a positive long-term impact on multiple sectors of Saudi Arabia’s rapidly modernizing economy. MEVF IV will also steward their maturity from the Seed Stage to Series A, Series B, and IPO/Exit, in order to create Saudi and regional technology market leaders.
MEVP (Middle East Venture Partners) is one of the pioneering venture capital firms in the MENA region and currently manages four regional technology-focused venture capital funds with more than USD300 million in assets under management and USD2 Billions in co-investments. To date, the MEVP team, comprising 20 investment professionals, has invested in more than 60 portfolio companies across MENA, Sub-Saharan Africa, Pakistan, and Turkey.
