The Saudi Arabia-based venture capital firm Khwarizmi Ventures has raised $70 million for its current fund to invest in early-stage startups in the Middle East, North Africa, and Pakistan.
About: Khwarizmi Ventures was founded in 2018 as an industry-agnostic firm by Yasser AlKadi.
Since it started, Khwarizmi has invested in 25 companies in 17 deals covering eight sectors in eight countries.
Fund Thesis: To back startups with proven traction in the MENAP region.
Initially, Khwarizmi was a corporate venture fund, but with the launch of its MENAP fund, it is now an institutional venture firm that invests in a variety of sectors.
It closed the first round of its current fund in October 2020 with $63 million.
Tell me more: Khwarizmi has already invested in a few startups across the MENAP region.
Startups from Pakistan include:
- TAG
- Dastgyr
In the UAE, it has invested in:
- Trukker
- Rewaa
- Remotepass
- Eyewa
- Lyve Global
The fund has also invested in North Africa-based startups.
Before you go: Khwarizmi Ventures has so far made investments in logistics, fintech, e-commerce, food-tech, health-tech, and HR-tech startups.
