Riyadh - Sharikat Mubasher: The SIDF Investment Company (SIC), a subsidiary of the Saudi Industrial Development Fund (SIDF), announced a strategic investment in Khwarizmi Venture Capital Fund II, managed by Khwarizmi Ventures.
This investment aims to stimulate the technical innovation ecosystem and empower the next generation of technology companies linked to the industrial sector, SIC stated in a press release yesterday.
Khwarizmi Venture Capital Fund II targets investments in more than 20 early-stage startups in Saudi Arabia and the GCC, providing capital ranging from $1 million to $5 million in Seed and Series A rounds.
The investment aligns with SIC’s strategy to cover all asset classes and increase investment channels serving the industrial sector. The company aims to maximize developmental and investment impact while diversifying its portfolio by partnering with specialized asset managers.
By investing in Khwarizmi Venture Capital Fund II, SIC will gain early access to emerging technologies that will define the technical sovereignty of the Saudi industrial sector. This includes supply chain platforms, logistics infrastructure, fintech solutions for small and medium-sized industrial enterprises, and applications for automation and artificial intelligence.
