Al Moammar, Fransi Capital launch a $40m VC fund to invest in Saudi technology startups

Follow-ups -eshrag News:

Wed, 2022-04-06 08:54

RIYADH: Saudi technology firm Al Moammar Information Systems Co. signed a SR150 million ($40 million) initial agreement with Saudi Fransi Capital to set up a private fund for venture capital investments in the technology sector within the kingdom.

One of Al Moammar primary objectives is developing technology start-ups with the focus on disruptive and innovative technologies, according to a bourse filing.

The company said it intends to establish a business incubator, accelerator, and innovation lab, either within the company or as a separate subsidiary.

Main category: 
Business & Economy
Tadawul All Share Index (TASI)

Noting that the news was copied from another site and all rights reserved to the original source.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button