Riyadh – Sharikat Mubasher: An alliance of investors and GCC-based family offices launched “Waad Investment”, an investment firm with a targeted value of SAR 750 million ($200 million), making it the largest private investment firm dedicated to supporting growth-stage startups.

 The alliance is led by investor Yaser AlGhamdi, the founder and Chief Investment Operations Officer of Waad Investment, in collaboration with the AlMajed and AlMisfer family offices, according to a recent press release.

Waad Investment emerged from an initiative to foster the role of the private sector in driving innovation and economic development in the region, aiming to invest in growth-stage startups, as well as offering a network of connections, mentorship, and guidance to enable startups to launch products and expand locally, regionally, and globally.

Yaser AlGhamdi, founder and Chief Investment Operations Officer, eloquently expressed his optimism about the future of startups in the region, emphasizing the importance of collaborating between public and private sectors to achieve comprehensive development. He commented: "The company will bridge the financial gap many startups face and will offer comprehensive support that includes financial investment, mentorship, and guidance."

The alliance reflects the commitment of family offices in the GCC to creating a positive impact on the entrepreneurship ecosystem and startups, equipping them with the necessary expertise and tools while addressing funding gaps. The alliance also seeks to increase employment opportunities and stimulate sustainable economic growth in the region.

Nasser AlMajed, Managing Director and CEO of Waad Investment added: "The alliance aims to change the rules of how family offices invest in startups, and to reassure the entrepreneurial ecosystem that family offices possess the expertise in exit strategies, IPOs, and financial solvency to lead the tech scene”.

The new firm is part of a broader vision to reinforce the innovation and entrepreneurship landscape in the GCC, as family offices and investors are striving to generate a diverse and sustainable economy based on knowledge and technology, especially given the significant technological advancements the region is experiencing.