Riyadh Valley Invests in Flat6labs’ Startup Seed Fund
Saudi Arabia’s SSF to Focus on Fintech, Healthtech, Edtech, and Tourism
Riyadh Valley Company, the investment arm of King Saud University, announces its investment in the venture capital fund (Flat6labs Startup Seed Fund “SSF”) by Flat6labs, a leading startup support company in the Middle East and North Africa region.
The fund enables startups to receive follow-on funding up to SAR 2.4 million ($639,741.02) and the support and training programs provided by the program for select companies.
The Startup Seed Fund is a closed-ended fund that invests in early-stage startups operating in the technology and innovation sectors within the Kingdom of Saudi Arabia. The fund will adopt a highly diversified, systematic investment plan that aims to reduce the risks faced by venture capital and reduce the administrative and legal costs incurred by early-stage startups. The SSF fund has invested in 20 innovative startups, with an investment value exceeding SAR 15,000,000 ($3,998,310.05)
The Flat6labs SSF fund invests in early-stage companies, focusing on Saudi Arabian startup founders in several technology fields, including financial technology, health, education, and tourism.
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Flat6Labs is the MENA region’s leading seed and early-stage venture capital firm, currently running the most renowned startup programs in the region. Annually, Flat6Labs invests in more than 100 innovative and technology-driven startups enabling thousands of passionate entrepreneurs to achieve their daring ambitions and ultimately becoming their institutional co-founders.