Khwarizmi Ventures has announced the first close of its second venture capital fund, securing commitments exceeding SAR 270 million (more than $70 million) to support early-stage technology startups across the Gulf Cooperation Council (GCC) region.
The new fund will focus on seed and Series A investments, with initial ticket sizes ranging between $1 million and $5 million per startup, alongside follow-on investment capacity for future funding rounds. The firm expects to begin deploying capital into its first investments in the coming months.
The fund targets technology-enabled startups, with a particular focus on fintech, consumer technology, and artificial intelligence applications across the GCC markets.
The Riyadh-based venture capital firm is led by Managing Partner Abdulaziz Al-Turki alongside partners Humam Madawi and Arjun Chopra, as well as co-founders Dr. Ibrahim Al-Moajil and Yasser Al-Qadi.
Khwarizmi Ventures launched its debut $70 million fund in 2021 and has since become one of the Kingdom’s most active early-stage investors. The first fund backed more than 30 startups, including Tamara, Hala, Calo, Eyewa, and Sary. The fund also achieved five exits within its first five years.
The launch of Fund II comes amid rapid growth in Saudi Arabia’s venture capital ecosystem. According to market data cited by the firm, Saudi startups raised a record $1.7 billion through 257 deals in 2025, representing year-on-year growth of 145% and marking the highest annual deal count in the Kingdom’s history.
Khwarizmi Ventures stated that the region’s strong digital infrastructure, rising private sector contribution to GDP, growing founder ecosystem, and increasing institutional investor participation continue to strengthen Saudi Arabia’s position as a leading technology investment hub in the Middle East and North Africa region.
Beyond capital deployment, the firm said it plans to continue supporting portfolio companies through business development, talent acquisition, fundraising support, and expansion into the Saudi market using its strategic network and operational expertise.
The fund is managed by Khwarizmi Capital, which is licensed by the Capital Market Authority of Saudi Arabia under license number 23255-02.
