Saudi investment groups Riyadh Angels and Najd Angels combine forces in alliance.
In a significant move for the Saudi startup ecosystem, Riyadh Angels and Najd Angels have merged to form a new powerhouse, Riyadh Angel Investors (RAI). The merger, which took place in 2023, also included the Tamkeen Investors Group.
The merger brings together all members of both Riyadh Angels and Najd Angels, creating a combined network with a wealth of experience and resources. The new name, Riyadh Angel Investors, was chosen to reflect the unified entity.
Riyadh Angels was launched in the first quarter of last year, while Najd Angels was founded in the last quarter. The merger marks a milestone in their growth and commitment to supporting startups in Saudi Arabia.
Dr. Abdullah Alaraj, the co-founder and Chairman of RAI, expressed his excitement about the merger, stating that it will provide tremendous value to the ecosystem and improve operational efficiency. He also highlighted the diversified experience of RAI members, which includes venture capital, private equity, financing, IT, banking, law, academia, and working with startups.
RAI members are not just passive investors. They are required to both source good deals and invest in some of them to maintain their membership. This active involvement ensures a hands-on approach to supporting startups, which is crucial for their success.
Many RAI members are active in the Saudi private sector and some invest in the US, UK, and LATAM. This international exposure will undoubtedly benefit the startups they invest in, as they will have access to a global network of resources and expertise.
The merger of Riyadh Angels and Najd Angels is expected to enhance the startup ecosystem in Saudi Arabia. With a combined network of experienced investors, startups in the kingdom will have more opportunities for growth and success.
In conclusion, the formation of Riyadh Angel Investors through the merger of Riyadh Angels, Najd Angels, and Tamkeen Investors Group is a significant step forward for the Saudi startup ecosystem. The combined network's wealth of experience, active involvement, and international connections will undoubtedly provide great value to the startups they invest in, contributing to the growth and success of the Saudi startup ecosystem.
