Is Waad Investment the Game-Changer for GCC Startups?
A new investment firm called "Waad Investment" has been launched, backed by a group of investors and family offices from the GCC region. This firm is set to become the largest private investment company dedicated to helping growth-stage startups, with a targeted value of 750 million Saudi Riyals, or about 200 million USD. It's led by Yaser AlGhamdi, who is not only the founder but also the Chief Investment Operations Officer. He's joined in this venture by the AlMajed and AlMisfer family offices.
The whole idea behind Waad Investment is to strengthen the role of the private sector in driving innovation and economic development across the region. The firm’s main goal is to invest in startups that are ready to grow, providing them not just with money, but also with a strong network of connections, mentorship, and guidance. This support is meant to help these startups launch products and expand their reach, whether locally, regionally, or even globally.
Yaser AlGhamdi is very optimistic about the future of startups in the GCC. He emphasises how important it is for the public and private sectors to work together to drive comprehensive development. He’s pointed out that Waad Investment will address the financial gaps many startups face, while also offering mentorship and guidance to help them succeed.
This alliance is a strong indication that family offices in the GCC are committed to making a positive impact on the entrepreneurship ecosystem. They’re not just providing funding, but also sharing their expertise and offering tools that startups need to thrive. This, in turn, is expected to create more jobs and stimulate sustainable economic growth in the region.
Nasser AlMajed, who is the Managing Director and CEO of Waad Investment, has highlighted that this alliance is about changing how family offices typically invest in startups. He’s reassuring entrepreneurs that these family offices have the expertise in areas like exit strategies, IPOs, and financial stability to really lead the tech scene in the region.
Overall, Waad Investment is part of a broader vision to boost innovation and entrepreneurship in the GCC. As the region continues to see significant technological advancements, family offices and investors are increasingly focused on building a diverse and sustainable economy that's driven by knowledge and technology.
