كيف ينعكس تنامي الأصول الخاصة على منظومة الاستثمار الجريء في السعودية؟

Dec 22, 2025

محمد رمزي 

 

 

شهدت منظومة الأصول الخاصة في المملكة العربية السعودية نموًا ملحوظا على مدى السنوات الأخيرة، مدفوعة بتطور القطاع المالي في إطار رؤية المملكة 2030، التي تركز على التنويع الاقتصادي وتقليل الاعتماد على النفط.

 

ومع تحول المشهد الريادي في المملكة، تمثل الأصول الخاصة رافدًا مهمًا من روافد تمويل الشركات الناشئة وتمكين رواد الأعمال، كما ينظر إليها باعتبارها محركًا رئيسيًا لتعزيز منظومة الاستثمار الجريء.

 

سنسلط الضوء في هذا التقرير على منظومة الأصول الخاصة في المملكة العربية السعودية، ومساهمتها المباشر في تعزيز صفقات الاستثمار الجريء، مع استعراض دور الصناديق السيادية والشركات الاستثمارية في دعم الشركات الناشئة.

 

ما المقصود بالأصول الخاصة؟

 

الأصول الخاصة هي الاستثمارات التي لا يتم تداولها في الأسواق المالية العامة، وتشمل فئات استثمارية بديلة تتطلب التزامًا رأسماليًا طويل الأمد. 

ومن أبرز هذه الفئات:

 

  • الملكية الخاصة: وتعني الاستثمار في شركات غير مدرجة في البورصة بهدف شراء جزء كبير من ملكيتها أو التحكم فيها، وتحسين أداء الشركة على المدى المتوسط أو الطويل ثم بيعها لتحقيق ربح كبير.

 

  • الائتمان الخاص: ويقصد به تمويل يُقدَّم للشركات من جهات غير مصرفية، خارج أسواق القروض التقليدية، بهدف تلبية احتياجات التمويل التي قد لا تغطيها البنوك، مثل التوسع أو المشاريع الكبرى.

 

  • العقارات: يشار به إلى الاستثمار في الأراضي أو المباني أو المشاريع العقارية لتحقيق دخل أو زيادة القيمة مع الوقت، بهدف الحصول على عوائد من الإيجار أو بيع العقار بسعر أعلى.

 

  • أدوات الدخل الثابت: وهي استثمارات توفر دخلًا ثابتًا من خلال فوائد أو أرباح دورية، مثل السندات أو الصكوك، بهدف تحقيق دخل منتظم مع مخاطر أقل مقارنة بالأسهم.

 

  • رأس المال المخاطر: ويعني تمويل شركات ناشئة أو مبتكرة ذات نمو سريع مقابل حصة ملكية جزئية، لدعم الشركات في مراحلها المبكرة مقابل مكاسب كبيرة إذا نجحت الشركة.

ولفهم أهمية الأصول الخاصة في السعودية، من الضروري التعرف على الركائز الأساسية التي تدير هذه الاستثمارات.

 

أهم ركائز الأصول الخاصة في السعودية

1 ـ هيئة السوق المالية: تعد هيئة السوق المالية في المملكة العربية السعودية من أبرز الجهات التي تتولى الإشراف على منظومة الأصول الخاصة، من خلال صناديق الدخل الثابت والعقارات ورأس المال المخاطر، وغيرها من الأصول.

 

وبحسب محمد القويز، رئيس هيئة السوق المالية السعودية، شهد قطاع إدارة الأصول في المملكة نمواً بنحو 20% خلال العام الماضي ليصل إلى 1.2 تريليون ريال، مدفوعاً بتنوع المنتجات والفئات الاستثمارية.

 

وأوضح القويز أن نمو الأصول المدارة جاء نتيجة التنوع في القطاعات والمنتجات الاستثمارية، بما في ذلك العقارات وأدوات الدخل الثابت ورأس المال المخاطر، وهي الأسرع نمواً ضمن صناعة إدارة الأصول في المملكة. 

 

2 ـ صندوق الاستثمارات العامة: يعد صندوق الاستثمارات العامة السعودي أحد أبرز جهات إدارة الأصول في المملكة العربية السعودية، ويقدر إجمالي الأصول تحت الإدارة من قبل الصندوق بنحو 3.47 تريليون ريال، من خلال الاستثمار في 220 شركة في نحو 13 قطاعًا استراتيجًا.

 

أثرها على منظومة الاستثمارات الجريئة

ساهمت الأصول الخاصة في تعزيز صفقات الاستثمار الجريء في المملكة العربية بشكل فعال، وذلك من خلال عدة عوامل أهمها:

 

ـ تزايد معدلات الائتمان الخاص: يشار إلى أن الائتمان الخاص هو الائتمان المقدم من الجهات غير المصرفية، والذي بات يقدم خدماته بالمملكة لمختلف المؤسسات، سواء الكبيرة أو الصغيرة، وفي مختلف القطاعات الاقتصادية.
 


وخلال الفترة من عام 2020، وحتى نهاية 2024، تضاعفت قيمة الائتمان الخاص في المملكة بنحو عشرة أضعاف ليسجل نحو 3.7 مليار دولار، وفق تقديرات وكالة "ستاندرد أند بورز" للتصنيف الائتماني.

 

وعلى الرغم من هذا النمو اللافت ، إلا أن الوكالة ترى بأن هذا القطاع أمامه فرصًا كبيرة للنمو، في ظل الزيادة المضطردة بحجم الإقراض في القطاعين العام والخاص.


ـ تطور نشاط الملكية الخاصة: شهدت استثمارات الملكية الخاصة تطورًا كبيرًا خلال السنوات الماضية، إذ بلغت نحو 4 مليارات دولار في 2023، مقابل نحو 523 مليون دولار في عام 2019، وفقا لتقرير صادر عن الشركة السعودية للاستثمار الجريء "SVC".

 

 وبالنظر للقطاعات الاستراتيجية التي استحوذت على النصيب الأكبر من صفقات الملكية الخاصة في المملكة على مدى السنوات الخمس الماضية، نجد في مقدمتها قطاع الصناعة، إذ جمع تمويلات بلغت نحو 4 مليارات دولار في الفترة من 2019 وحتى نهاية 2023، وفي المرتبة الثانية يأتي قطاع الخدمات المالية بحجم تمويلات بلغت نحو 2.6 مليار دولار.

 

وجاء قطاع الاتصالات في المرتبة الثالثة باستثمارات بلغت نحو مليار دولار، ثم قطاع الرعاية الصحية باستثمارات بلغت نحو 586 مليون دولار، وأخيرا قطاع الأغذية والمشروبات باستثمارات بلغت نحو 155 مليون دولار.

 

ـ طفرة في الاستثمار الجريء: شهد النصف الأول من عام 2025 نمواً استثنائياً في الاستثمار الجريء، حيث بلغ إجمالي التمويل 860 مليون دولار (3.2 مليار ريال سعودي)، بنمو 116% مقارنة بالنصف الأول من 2024، متجاوزاً إجمالي تمويل عام 2024 كاملاً. 

 

وفي الوقت نفسه سجلت المملكة رقماً قياسياً بـ114 صفقة، بنمو 31%، وهو نموًا مدعومًا بنشاط رأس المال السيادي، وبرامج المراحل المبكرة المدعومة بصناديق ومسرعات أعمال جديدة.

 

وقال الدكتور نبيل بن عبدالقادر كوشك، الرئيس التنفيذي، وعضو مجلس إدارة الشركة السعودية للاستثمار الجريء: "إن النمو المتسارع لمنظومة الاستثمار الجريء في المملكة خلال السنوات الماضية، مكنها من المحافظة على صدارة المشهد في المنطقة والوصول لأرقام قياسية جديدة في حجم وعدد صفقات الاستثمار الجري في النصف الأول من العام 2025، وذلك انطلاقًا من سعي السعودية نحو تحقيق رؤية 2030 وإيماناً بأهمية تعزيز ريادة الأعمال وتحفيز الاستثمار في الشركات الناشئة من المراحل المبكرة إلى المراحل المتقدمة".

 

أبرز التحديات القائمة

على الرغم من هذا الزخم الكبير، إلا أن الأصول الخاصة تواجه عدة تحديات أبرزها:

 

1. الاعتماد على الدعم الحكومي: كثير من الصناديق السيادية وبرامج الاستثمار الجريء تعتمد على تمويل حكومي مباشر، مما يحد من تطوير قاعدة استثمارات خاصة مستقلة ومستدامة.

 

2. تقلبات السوق العالمية: التغيرات في أسعار النفط، التضخم، وأسواق المال العالمية تؤثر على قدرة الصناديق السيادية والمستثمرين الأجانب على ضخ المزيد من رؤوس الأموال في السوق المحلية.

 

3. محدودية فرص التخارج: عدد الاكتتابات العامة أو صفقات الاندماج والاستحواذ لا يزال محدودًا مقارنة بحجم الاستثمارات، ما يجعل تحقيق العوائد النهائية للمستثمرين تحديًا.

 

4. نقص الخبرات المتخصصة: هناك حاجة إلى مزيد من الخبراء والمحللين المحليين في إدارة صناديق الاستثمار الخاصة ورأس المال المخاطر لتقييم الفرص والمخاطر بشكل احترافي.

 

5. المخاطر التشغيلية والابتكارية للشركات الناشئة: الاستثمار الجريء في شركات ناشئة دائمًا مصحوب بمخاطر عالية مثل فشل المشاريع، تأخر النمو، أو عدم تقبل السوق للمنتجات الجديدة.

 

6. التحديات التشريعية والتنظيمية: رغم الإصلاحات الكبيرة، يحتاج بعض المستثمرين لمزيد من وضوح القوانين واللوائح المتعلقة بإنشاء وإدارة صناديق الاستثمار الخاصة ورأس المال المخاطر.

 

النظرة المستقبلية

 

تشير التوقعات إلى استمرار نمو منظومة الأصول الخاصة والاستثمار الجريء في المملكة العربية السعودية خلال السنوات المقبلة، مدفوعة بالاستثمارات الحكومية والخاصة، وإصلاحات البيئة التنظيمية، ورؤية المملكة 2030 التي تركز على تنويع الاقتصاد ودعم ريادة الأعمال. من المتوقع أن تشهد السوق توسعًا في عدد الصناديق الخاصة، وارتفاعًا في حجم التمويلات المقدمة للشركات الناشئة، مع زيادة فرص الخروج عبر الاكتتابات العامة أو الاندماجات والاستحواذات.

 

كما يُتوقع أن تستمر المملكة في جذب المستثمرين الدوليين، خصوصًا في القطاعات ذات النمو السريع مثل التجارة الإلكترونية، الفينتك، والبرمجيات، ما يعزز مكانتها كمركز إقليمي للابتكار وريادة الأعمال. ومع تطوير الكفاءات المحلية وتوسيع قاعدة الشركات الناشئة، يمكن أن تصبح السعودية نموذجًا عالميًا للاستثمار الجريء والأصول الخاصة المستدامة.

 

ختامًا، يُظهر نمو الأصول الخاصة في السعودية كيف يمكن للاستثمارات الذكية أن تعزز منظومة الاستثمار الجريء وتدعم الشركات الناشئة في مختلف القطاعات الاقتصادية، ومع استمرار الإصلاحات الاقتصادية ورؤية المملكة 2030، من المتوقع أن تتوسع الصناديق الخاصة، وترتفع قيمة التمويلات، وتزداد فرص الخروج عبر الاكتتابات العامة والاندماجات، ما يعزز مكانة المملكة كمركز إقليمي للابتكار وريادة الأعمال.

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Latest Experts Thoughts

Energy Tech in Saudi Arabia: How Solar Innovation Is Powering the Kingdom’s Next Energy Era

Ghada Ismail

 

For decades, Saudi Arabia’s global energy identity has been closely tied to oil production. Yet in recent years, the Kingdom has begun positioning itself as a future leader in renewable energy, particularly solar power. With vast deserts, high sunlight exposure, and strong government backing, Saudi Arabia is rapidly building a solar ecosystem that combines large infrastructure projects with innovative startups developing technologies tailored for desert environments.

This shift is not simply environmental. It is deeply economic. As part of Vision 2030, Saudi Arabia aims to diversify its economy and reduce domestic reliance on hydrocarbons for electricity generation. Renewable energy now sits at the center of that transformation.

The Kingdom has set an ambitious target: generating 50% of its electricity from renewable sources by 2030, requiring around 130 gigawatts of renewable energy capacity, most of which will come from solar power. 

To put that in perspective, Saudi Arabia’s renewable energy capacity was almost nonexistent a decade ago. Today, large-scale projects are already producing electricity while dozens more are under development. Solar technology is not only becoming a key energy source—it is emerging as a new sector for innovation and entrepreneurship.

 

Why Saudi Arabia Is Ideal for Solar Technology

Saudi Arabia possesses some of the strongest solar resources on Earth. Studies by the King Abdullah City for Atomic and Renewable Energy show that solar radiation across much of the Kingdom averages around 5.5 to 6.5 kilowatt-hours per square meter per day, placing it among the most sun-rich regions globally. Research on solar resource mapping conducted by King Abdullah University of Science and Technology indicates that annual solar irradiation levels typically range between 2,100 and 2,400 kWh per square meter, giving the Kingdom a natural advantage: solar panels installed in Saudi Arabia can generate significantly more electricity than similar systems in many other countries.

These environmental conditions make solar energy economically attractive. Renewable energy tenders organized under the Kingdom’s procurement program, managed by the Saudi Power Procurement Company, have produced some of the lowest solar electricity prices ever recorded globally, with winning bids falling below $0.02 per kilowatt-hour in several competitive auction rounds, according to analyses by the World Bank and international solar market reports.

Yet the Saudi environment also presents unique technical challenges. Research from King Abdullah University of Science and Technology highlights how dust accumulation, extreme temperatures, and large-scale desert installations can significantly reduce photovoltaic efficiency. As a result, simply importing conventional solar technology is often not enough, creating demand for desert-adapted solar solutions and new technological innovation.

This is where Saudi energy tech startups and research institutions are stepping in, developing innovations designed specifically for desert climates.

 

Startups Tackling Solar’s Desert Challenges

One of the most prominent Saudi solar technology startups is NOMADD Desert Solar Solutions, a company originating from research conducted at the King Abdullah University of Science and Technology (KAUST). The acronym NOMADD stands for NO‑water Mechanical Automated Dusting Device — a solution developed in response to the specific challenges of cleaning solar panels in desert environments.

Dust accumulation is a major obstacle for solar farms in desert regions. Sand and fine particles settle on panels and block sunlight, reducing electricity output. According to NOMADD’s founder, daily dust soiling can cut production by around 0.5–1% per day, and after severe sandstorms, efficiency losses can reach as much as 60% if panels are not regularly cleaned.

Traditional cleaning systems often rely on large amounts of water, an impractical solution in water-scarce arid regions. NOMADD addressed this by developing autonomous robotic cleaning systems that remove dust from solar panels without water. These robots traverse solar arrays, gently brushing surfaces to maintain performance while minimizing maintenance costs and water use. 

This technology is particularly relevant as Saudi Arabia deploys massive solar farms across desert landscapes, including those planned for megaprojects such as NEOM, where maintaining high output amid harsh conditions is essential for renewable energy targets. 

 

Mirai Solar and the Rise of Agrivoltaics

Another emerging Saudi startup pushing solar innovation forward is Mirai Solar, which is developing flexible and transparent solar technologies designed for agriculture and greenhouse applications.

Unlike traditional solar panels that completely block sunlight, Mirai Solar’s photovoltaic modules allow some light to pass through while converting part of it into electricity. This technology enables solar panels to function as shading systems for greenhouses.

In hot climates like Saudi Arabia’s, excessive sunlight can stress crops and increase cooling costs in agricultural environments. By integrating solar shading structures with energy generation, Mirai Solar’s systems simultaneously produce electricity while creating a more controlled environment for agriculture.

This approach belongs to a growing field known as ‘agrivoltaics’, which combines agriculture and solar power generation on the same land. In regions where water and arable land are limited, such hybrid systems could help improve both energy and food sustainability.

 

Solar Windows and Energy-Producing Buildings

Another innovative Saudi climate tech company working on solar energy solutions is Iyris, a startup developing transparent photovoltaic materials designed for building integration.

The company’s technology focuses on glass coatings that capture infrared light while allowing visible light to pass through. This means windows can generate electricity while still functioning as normal building glass.

Beyond electricity production, this technology can significantly reduce heat entering buildings. In Saudi Arabia, where air-conditioning accounts for a large share of electricity consumption, reducing solar heat gain could dramatically lower energy demand.

If deployed at scale, energy-generating glass could transform urban architecture, allowing buildings to function as distributed power generators rather than passive energy consumers.

 

Research Institutions Driving Solar Innovation

Many Saudi solar startups originate from academic research institutions rather than traditional venture capital ecosystems.

King Abdullah University of Science and Technology has emerged as one of the region’s most important hubs for renewable energy research. The university hosts dedicated laboratories focused on photovoltaics, energy materials, and solar system engineering.

Through commercialization programs and accelerators such as TAQADAM, research projects can evolve into venture-backed startups capable of scaling globally.

Companies like NOMADD and Iyris demonstrate how academic research can transition into real-world energy technologies that address regional environmental challenges.

 

The Solar Infrastructure Boom

Alongside startup innovation, Saudi Arabia is investing heavily in utility‑scale solar infrastructure as part of its renewable energy transition under Vision 2030. One of the Kingdom’s flagship projects is the Sudair Solar PV Project, a 1.5‑gigawatt solar installation in Sudair Industrial City,  one of the largest single‑site solar plants in the country and among the largest globally at this scale.

Another massive development is the Al Shuaibah solar project, planned to reach around 2.6 gigawatts of installed capacity, making it one of the region’s largest solar power projects and a major component of the National Renewable Energy Program.

The Kingdom’s solar market is also expanding rapidly in economic terms. According to industry research by IMARC Group, the Saudi solar energy market was valued at about $8.3 billion in 2025 and is forecast to grow to around $145 billion by 2034, driven by continued deployments and growth in solar technologies and infrastructure.

These large‑scale projects provide the infrastructure backbone for the renewable energy transition, while startups and technology companies help build the innovation layer that makes solar systems more efficient, durable, and scalable.

 

A New Energy Technology Ecosystem

Traditionally, energy industries have been dominated by massive corporations and government-backed utilities. Solar technology is changing that dynamic.

Because solar power involves numerous technological components—from materials science and robotics to software and energy storage—it creates opportunities for smaller companies to develop specialized solutions.

Saudi startups are increasingly focusing on technologies such as solar panel maintenance automation, advanced photovoltaic materials, smart energy monitoring systems, and building-integrated solar technology.

Rather than competing with utility-scale energy companies, these startups operate within the broader energy ecosystem, developing the tools and infrastructure that allow solar energy systems to operate more efficiently.

 

Challenges for Solar Startups

Despite strong government support, building energy technology companies remains challenging.

Solar hardware development often requires long research cycles and expensive testing environments. Scaling technologies from laboratory prototypes to industrial-scale deployment can take years.

Regulatory requirements for energy infrastructure can also slow commercialization. Solar technologies must comply with grid standards, safety regulations, and large-scale engineering requirements.

Yet Saudi Arabia’s growing investment in renewable energy may gradually reduce these barriers. As solar deployment accelerates, demand for supporting technologies will likely increase.

 

The Future of Solar Tech in Saudi Arabia

Saudi Arabia’s solar ambitions extend far beyond generating electricity. In the coming decades, solar technologies could power smart cities, enable energy-positive buildings, support sustainable agriculture, and drive green hydrogen production.

The Kingdom’s natural solar resources, combined with strong government backing and emerging startup innovation, create the conditions for a new energy technology sector to emerge.

For a country historically defined by oil, the next chapter of its energy story may be written under the desert sun.

Activist investors: how a minority stake can drive big corporate changes

Noha Gad

 

In today’s fast-paced financial landscape, where markets shift quickly and corporate performance is continually under the microscope, shareholders expect more than just passive monitoring. This is where activist investors emerge as strategic agents who intervene to drive transformation and unlock greater value.

An activist investor is a shareholder who acquires a significant minority stake in a publicly traded company to influence its management and operations. Their goals often span influencing key decisions, replacing underperforming directors, streamlining operations to boost value, or even pushing for a full company sale. While many prioritize maximizing shareholder returns through efficiency gains, others blend in social responsibilities like ESG improvements.

These investors are typically hedge funds, wealthy individuals, or institutions like pension funds that expertly spot undervalued companies ripe for turnaround. Hedge funds pool capital for high-conviction bets, while wealthy individuals deploy personal fortunes for nimble, opportunistic plays. Institutions like pension funds bring institutional heft, leveraging long-term horizons to advocate for sustainable value unlocks in blue-chip firms overlooked by markets.

These investors rally support from fellow shareholders via public letters, media campaigns, and private dialogues. If persuasion falls short, they escalate to proxy fights, nominating rival board candidates to seize control of strategic direction. 

Passive investors vs. activist investors

 

Passive investors prioritize broad market exposure over individual stock picking. They buy and hold diversified portfolios and rarely intervene, content with market-driven returns over time. On the other hand, Activist investors are hands-on disruptors who concentrate capital on select undervalued targets. They demand immediate fixes: slashing overhead, spinning off divisions, hiking dividends, or ousting CEOs, often backed by forensic financial analysis and peer comparisons.

The role of activist investors

Activist investors play pivotal roles as catalysts for corporate change, wielding influence through ownership stakes to drive strategic and operational shifts. They act as change agents, acquiring minority stakes to pressure management on key issues like cost efficiencies, capital allocation, or leadership refresh. 

They initiate public campaigns, then escalate to proxy contests for board seats, almost winning the battles to install aligned directors. Their toolkit includes forensic analysis of financials to spotlight underperformance, coalition-building with institutional holders, and media amplification to sway sentiment.

Pros and cons

While activist investors catalyze corporate evolution, their influence divides opinions on balancing immediate returns with enduring growth. It offers several advantages, including:

  • Rapid value unlocking: activist investors identify underperforming assets, pushing for buybacks, spin-offs, or cost cuts.
  • Governance renewal: By winning board seats in most proxy fights, investors replace entrenched directors, enforcing accountability and merit-based leadership that ripples to peer firms.
  • Strategic agility: Activists force pivots like divestitures or M&A, realigning operations with competitive edges and injecting fresh ideas into stagnant giants.

Disadvantages 

  • Operational disruption: Proxy wars spark internal chaos, talent flight, legal fees, and diverted focus, costing firms millions during heated battles.
  • Heightened volatility: Short 1–3-year horizons amplify market swings, especially in turbulent periods, eroding stability for all stakeholders. 
  • Narrow vision: tactics overlook holistic strategies like ESG or patient growth, potentially devaluing sustainable models in favor of financial engineering.

CEO: Link Datacenter expands investments to drive digital transformation in Egypt, Saudi Arabia

Mohamed Ramzy

 

The information technology sector in Egypt and the broader region is experiencing an accelerating digital transformation, making cloud computing, managed services, and cybersecurity key pillars to support digital transformation in the government and private sectors. This momentum helped create significant growth opportunities for companies specializing in digital infrastructure, particularly those with deep expertise in Egypt and the broader region.

Link Datacenter (LDC) stands out as a leading provider of cloud computing, managed services, and cybersecurity solutions in the region. Therefore, Sharikat Mubasher conducted an interview with Gamal Selim, CEO of Link Datacenter, to discuss the company’s vision, its role in supporting digital transformation, and its future growth plans.

 

First, we would like to know more about Link Datacenter and the key milestones in its development since its establishment.

Link Datacenter was founded in 1996 as the data center arm of LINKdotNET, at a time when internet services in Egypt were still in their infancy. This enabled the company to be an integral part of the early digital infrastructure in the market. 

With the expansion of internet usage in the early 2000s, the company has witnessed significant growth driven by rising demand for hosting services and digital infrastructure, establishing itself as a technology partner to several major platforms in Egypt and the region.

The company also went through key milestones, most notably the wave of M&A in the sector, especially after Mobinil (later acquired by Orange) acquired LINKdotNET. This acquisition enabled the company to access more advanced technologies and reach a broader customer base.

In 2009, the data center and cloud computing activities were consolidated into an independent entity, marking a turning point in offering a comprehensive suite of managed services, including cloud computing, cybersecurity, and digital infrastructure, while helping customers adopt artificial intelligence (AI) technologies.

Today, the company delivers its services through its data centers, via strategic partnerships with global entities such as Microsoft, or directly within the customer’s environment, based on the needs of each sector.

 

What is the volume of your current customer base? And how does the company classify them according to services?

The company has a diverse customer base that spans various sectors. It serves thousands of clients, delivering ‘business essentials’ which include domain registration and email hosting.

We also provide services to around 500 large enterprises and SMEs that rely on cutting-edge services, including cloud computing, cybersecurity, and advanced hosting.

Customers are classified according to their needs: startups rely on basic services, while larger enterprises rely on integrated solutions and more sophisticated infrastructure to ensure operational efficiency and security.

 

What is Link Datacenter’s growth strategy over the coming years? And does the company target expanding customers base?

Link Datacenter’s strategy is centered on growing business volume overall, not just increasing the number of customers, as the genuine value lies in maximizing the benefit for existing customers from the services provided.

The company targets an annual growth rate of 30% to 40% in both revenues and operations, by expanding existing customers’ adoption of its services, developing new solutions that meet their evolving needs, and attracting new customers in promising sectors.

However, priority remains on value and operational quality for each customer, as the targeted growth can be achieved by deepening existing partnerships without relying solely on increasing customer numbers.

 

What are the company’s investment and expansion plans amid accelerating digital transformation and AI adoption in Egypt?

We are constantly working to enhance our portfolio to meet market needs, particularly in digital transformation and AI fields. We help our customers host and run Large Language Models (LLMs), ensuring they have maximum value based on the nature of each business.

We also have a fully specialized cybersecurity department, including the Security Operations Center as a Service (SOC as a Service), which targets mission-critical business applications. These services are supported by qualified teams and advanced technologies that keep pace with the growing demands of digital businesses. 

 

How do you see the Saudi market amid the accelerating digital transformation under Vision 2030? And do you plan to expand there?

The Saudi market is one of the fastest-growing markets in digital infrastructure and cloud computing, driven by Vision 2030’s objectives, which place digital transformation at the forefront of its priorities.

We see significant opportunities in the Kingdom, notably in cloud computing, managed services, and cybersecurity fields. We continuously explore expansion and partnership opportunities in the Saudi market, whether through delivering our services directly or through local partnerships, in line with the market needs and regulatory requirements.

 

With over 25 years of experience in the Egyptian and regional market, what sets Link Datacenter apart from other competitors?

Link Datacenter has deep experience in providing hosting and managed services across the Middle East and Africa (MEA), supported by strong strategic partnerships with global companies, such as Microsoft and others.

This, combined with our extensive customer base, which includes government organizations, large enterprises, and SMEs, and our highly experienced team, positions us among the leading professional service providers.

We always strive to deliver customized solutions that precisely meet each customer’s needs, with a strong focus on security and continuous innovation.

 

Translation: Noha Gad

AI-Native Startups: The New Breed of Companies Built Directly on Intelligence

Kholoud Hussein

 

A new category of startups has started dominating global tech conversations: AI-native startups. Unlike traditional companies that add artificial intelligence as a feature, these startups are built entirely around AI from day one—their core product, business model, and operations all depend on machine intelligence. They don’t use AI as an enhancement; they use it as their foundation.

As the world moves deeper into the era of automation and generative models, AI-native startups are becoming one of the fastest-growing segments in the innovation economy. Their rise mirrors the early days of cloud-native companies, which emerged a decade ago and quickly redefined software development. But AI-native startups represent an even more disruptive shift—one that touches every sector, from finance and logistics to healthcare and digital media.

This new model raises important questions: How exactly do AI-native companies operate? Are they profitable? How quickly are users adopting them? And what does their presence look like in the MENA region?

 

What Makes a Startup “AI-Native”?

An AI-native startup integrates artificial intelligence into the very fabric of its value proposition. AI is not a tool—it is the product’s engine.

Instead of building software that performs a set of fixed tasks, these companies build systems that learn, adapt, and improve with every interaction. Their technology stacks are centered around large language models (LLMs), predictive algorithms, or autonomous decision-making engines.

An AI-native product might write code, diagnose a disease, optimize supply chains, generate marketing campaigns, detect fraud, or run an entire business workflow without human intervention. The more data it processes, the smarter and more efficient it becomes.

This architecture allows AI-native startups to scale quickly. They don’t need large teams or massive infrastructure. Their main assets are data, algorithms, and computational power.

 

How These Companies Operate in the Market

AI-native startups break the traditional build-test-iterate cycle. Instead of hard-coding features, they train and refine models. Their speed of execution is measured not by product releases but by how fast the system learns.

Internally, these startups operate with leaner teams. A product that once required 50 engineers might now be developed by 6 people supported by an AI-powered development pipeline. Sales teams use AI agents. Customer service is automated. Even marketing strategies are generated and tested through intelligent systems.

Their business models tend to follow patterns such as:

• Usage-based pricing – charging customers per output, like generations or transactions
• Subscription to an intelligent assistant – offering AI copilots for specialized industries
• API-first platforms – enabling other companies to plug into their intelligence layer
• Workflow automation – charging for processes the AI takes over

As a result, AI-native startups often have higher margins, lower operational costs, and faster product cycles than traditional software companies.

 

User Adoption Is Growing at Unprecedented Speed

Consumers and enterprises are adopting AI-native products faster than any technology wave since smartphones. The shift is driven by three main forces:

1. AI solves real, costly problems

From logistics failures to expensive medical diagnostics, AI systems remove inefficiencies that humans alone struggle to fix.

2. AI feels intuitive to use

Natural-language interfaces have lowered the barrier. You don’t need technical skills to interact with an AI assistant—you just talk to it.

3. Productivity gains are immediate

Companies experience measurable improvements within weeks. Costs fall, processing becomes faster, and output quality improves.

According to global surveys, over 70% of enterprises worldwide plan to increase their AI spending in 2026, with a significant share specifically targeting AI-native solutions rather than traditional AI tools.

 

Are AI-Native Startups Profitable?

AI-native companies benefit from a cost structure that grows more efficiently as they scale. Unlike conventional SaaS platforms that face rising customer support and development costs, AI models actually perform better with volume.

However, profitability depends on two factors:

• How efficiently the startup manages compute costs

Running large models can be expensive, especially at early stages. Well-built AI-native startups avoid unnecessary model training, compress their models, or specialize in niche use cases to reduce GPU dependency.

• How strong their data advantage becomes

Data is the defensible moat. AI-native startups that secure unique, domain-specific data sets become exponentially more valuable and harder to replicate.

When these two conditions align, AI-native startups often reach profitability far earlier than traditional tech companies. Several global AI-native players hit break-even within 12–18 months—something unheard of in the SaaS world.

 

The Future of AI-Native Companies

The next wave of AI-native startups will not simply automate tasks—they will automate entire business functions. Finance departments, HR operations, customer support centers, and logistics planning may eventually be run by autonomous, AI-orchestrated systems with minimal human intervention.

Industry analysts expect that by 2030, over 30% of new global startups will be AI-native by default, a trend driven by the falling cost of computing and the rise of developer-friendly AI infrastructure.

These companies will not replace humans; they will redefine roles. Employees will shift from operational tasks to oversight, strategy, and creative problem-solving.

 

AI-Native Startups in the MENA Region

The MENA region—especially the UAE and Saudi Arabia—is emerging as one of the most promising markets for AI-native companies. Major national strategies are fueling investment, including:

  • Saudi Arabia’s National Strategy for Data and AI (NSDAI)
  • The UAE’s National Artificial Intelligence Strategy 2031
  • Expanding sovereign wealth fund participation in AI ventures

Dozens of emerging players are already gaining traction in fintech, logistics, retail, cybersecurity, and enterprise AI.

Saudi Arabia, in particular, is positioning itself to become a global AI hub by 2030. The Kingdom’s young and tech-savvy population, paired with massive public and private investment, makes it an ideal ground for AI-native models to scale quickly. Demand for intelligent enterprise solutions in sectors such as government services, healthcare, and e-commerce is rising sharply.

Regional adoption of AI-native platforms is growing fast, especially among SMEs seeking to automate operations without hiring large teams.

 

Finally, AI-native startups represent a fundamental shift in how companies are built, how products evolve, and how markets operate. Their agility, efficiency, and rapid learning cycles make them uniquely positioned to reshape industries at a speed traditional companies cannot match.

In the MENA region, the coming years will likely see an explosion of AI-native innovation as governments, investors, and enterprises push toward a more automated and data-driven economy.

These companies are not simply part of the future—they are the future.

 

When and why mature startups raise Series E funding

Noha Gad

 

Every fast‑growing company goes through a capital journey that usually starts with seed and pre‑seed funding, where founders test an idea, build a product, and find early customers. Then come Series A and B rounds, which focus on proving the business model, refining unit economics, and scaling the core operations. By the time a startup reaches Series C and D, priorities shift from survival to growth at scale, market expansion, and operational maturity.

Series E funding round marks the late‑stage phase of a startup’s capital journey. By this stage, the company is no longer trying to prove its product or business model; instead, it’s focused on scaling quickly, consolidating market leadership, or preparing for an IPO or a major exit. 

Unlike earlier rounds that prioritize survival and product‑market fit, Series E is usually about big moves: international expansion, heavy hiring, large acquisitions, or building a balance sheet robust enough to weather public‑market scrutiny. It tends to attract institutional investors, private‑equity players, and other late‑stage funds that expect a clear path to liquidity.

The Series E round is a signal of maturity and proof that the company has products and a business model with real customers, and has reached a significant revenue or valuation level where the next moves require serious capital.

 

How do Series E rounds differ from other rounds?

Early-stage rounds usually focus on products, validation, and product-market fit. At this stage, investors support the founding team and a promising concept, not a proven business. The checks are relatively small, the metrics are qualitative, and the goal is to iterate fast, find early users, and head toward product‑market fit. 

Mid-stage rounds (i.e., Series C and D) focus on scaling operations, expanding markets, and improving unit economics. At these stages, the company is no longer a project but a real business with meaningful revenue, clear unit economics, and often a presence across multiple customer segments or regions. Investors here are growth‑stage VCs and sometimes corporate or hedge‑fund‑style players, and the capital is used to expand into new markets, build more infrastructure, or even acquire smaller competitors. 

Late-stage and pre-exit rounds are often much larger and target aggressive expansion, major hiring, cross‑border scaling, or laying the financial groundwork for an IPO or strategic sale. Investors at this stage are mainly late‑stage VCs, private equity firms, and large funds that expect a clear path to liquidity, stronger governance, and more sophisticated financial reporting. 

 

When and why do companies need to raise a Series E round?

Series E is a strategic move for companies that have already proven their model and are ready to make a big leap. Founders typically consider Series E when their ambition and opportunity outpace the capital they currently have. At this stage, founders shift their focus to how fast they can scale and how far they can dominate the market. The round is usually about accelerating growth and strengthening the balance sheet. Another main reason to raise Series E is to prepare for an IPO or public listing. Many companies use this round to build a cash buffer, professionalize governance, and clean up their financials to handle the scrutiny and volatility of public markets. It also gives them time to refine their narrative for public investors while operating with the flexibility of a private company. 

Series E can also be used to consolidate market leadership. It can be the fuel needed to outspend rivals on customer acquisition, product development, and hiring. Additionally, companies that want to stay private longer may use this round to fund a multi‑year runway without going public immediately.

Finally, the decision to raise Series E should be driven by clear, capital‑intensive goals, whether that is scaling aggressively, consolidating dominance, or preparing for an IPO or major exit, rather than a reflexive desire for more money. Used wisely, Series E can turn a strong scale‑up into a market‑defining business; used poorly, it can lock a company into a high‑pressure, high‑expectation path without the fundamentals to back it up. Founders and investors, understanding when and why to raise Series E is the key to making it a powerful accelerator, not an unnecessary gamble.