Saudi Arabia's Falak Investment Hub seeks to grow funding for start-ups
Saudi venture capital company Falak Investment Hub is seeking to grow its start-up funding base in line with the kingdom's ambitions to position itself as a hub for emerging technology companies, its chief executive has said.
The Riyadh-based company has helped businesses to raise more than 400 million Saudi riyals ($107 million), largely through a network of angel investors, Adwa Al Dakheel told The National in an interview.
This is on top of the 20 million riyals that Falak has invested to help accelerate the development of start-ups, which it also plans to boost by seeking the right partnerships, she said.
Falak, which has introduced more than 100 start-ups into the Saudi ecosystem since it started in 2018, is implementing a core strategy of increasing the know-how of angel investors so they can add more value when they invest in a company, Ms Al Dakheel said.
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