Plus VC Plans 40 Startup Deals in 2026 as Saudi Venture Scene Grows - Bloomberg
Early-stage investor Plus VC plans to fund more than three dozen startups in 2026, with a view toward deals in Saudi Arabia as the country cements its position as a regional venture capital hub.
The firm, which has backed more than 250 startups across 15 countries in the Middle East and North Africa, expects to increase capital deployment to about $10 million from $4.5 million this year, according to Hasan Haider, founder and managing partner.
It will focus on sectors including construction technology and food-waste platforms, and plans to push deeper into areas like fintech. Plus VC also intends to raise money from external investors for its next fund in 2026, Haider added, without offering further details.
“A lot more deals are taking place in the Saudi market and actually, in terms of amounts of funding, Saudi is now taking over the most out of anywhere else in the region,” he said in an interview.
Startups in the Middle East raised a record $1.2 billion last quarter as they benefit from continued sovereign support and increasing interest from international investors. They also hit a fundraising high on a nine-month basis, with the kingdom leading in deal count.
Plus VC has backed Saudi startups including foodtech company Calo, which is looking to list in the local market by 2027. It also recently joined a round for Strataphy, a cooling solutions firm.
The venture investor sees the kingdom benefiting in the years ahead as more funding becomes available for later-stage growth companies, increasing the likelihood for eventual exits.
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