The CEO of Saudi venture capital firm Falak Investment Hub has expressed their intention to expand their startup funding base in accordance with the kingdom’s aspirations to become a center for emerging technology companies.
Adwa Al Dakheel, CEO of the Riyadh-based company, stated in an interview with The National that Falak has facilitated the raising of over 400 million Saudi riyals ($107M) for businesses, primarily through a network of angel investors.
Additionally, Falak has already invested 20 million riyals to support the growth of startups, and they intend to increase this amount by establishing suitable partnerships.
According to Ms. Al Dakheel, Falak Investment Hub, which has brought over 100 startups into the Saudi ecosystem since its establishment in 2018, is pursuing a key strategy of enhancing the expertise of angel investors. The aim is to enable them to contribute more value when making investments in companies.
“To get investors, you need investible companies. And to be an investible company, you need smart investors. So the No 1 challenge is finding the equilibrium between both of these variables,” she said.
“It’s not just about putting liquidity – it’s more about providing connections, being an advisor and providing further more than what money can provide.”
