Iwan Ventures Unveils $13.3M Venture Builder to Boost Saudi Startups

Iwan Ventures has introduced a new Venture Builder initiative, committing SAR 50 million (~USD 13.3 million) to boost Saudi startups in AI, Fintech, and E-commerce. This initiative aligns with Saudi Vision 2030’s goals to enhance the nation’s entrepreneurship landscape and drive non-oil sector growth.

CEO Lewa Abukhait shared that the Venture Builder aims to empower entrepreneurs with a supportive framework for sustainable business growth. Abdulrahman Qandeel, Head of Business Development, noted that this launch reinforces Saudi Arabia’s role as a tech and entrepreneurship hub in the region.

Partner Hani Abdelwahab highlighted that the initiative seeks to nurture innovative startups, targeting future exit opportunities or stock listings, reflecting the Kingdom’s rapid entrepreneurial advancements.

Iwan Al-Riyada’s commitment through this project reaffirms its dedication to fostering Saudi Arabia’s entrepreneurial ecosystem and achieving Vision 2030 goals.

Source: EntArabi