Gulf Capital, RDIA Join Forces for Saudi Tech Sector Boost
Under this partnership, Gulf Capital and RDIA will collaborate to bolster Saudi homegrown firms.
Gulf Capital has teamed up with the Saudi Research Development and Innovation Authority (RDIA) to inject over $100 million into the Saudi technology and innovation landscape over the next five years.[1]
Under this partnership, Gulf Capital and RDIA will collaborate to bolster Saudi homegrown companies in sectors like healthcare, healthtech, technology, fintech, energy, renewables, sustainability, and future economies. Additionally, they will work together to attract and facilitate the entry of international innovation companies into the Saudi market.
Gulf Capital, with its 18-year track record in Saudi Arabia, has already invested over SAR 2.2 billion ($590,000) in Saudi companies. Its diverse portfolio spans healthcare, technology, fintech, business services, food, education, water, wastewater, oil and gas, and real estate.
One of Gulf Capital's notable investments is Geidea, a Saudi Arabian payment services provider that employs 900 people in the kingdom.