Impact46 launched a new SAR 500 million fund during the “Leap 23” conference in Riyadh to invest in emerging technology companies in KSA and the MENA region.
The new fund will invest in emerging technology companies in several digital fields, including fintech, e-commerce, and software as a service.
This is the third and most valuable fund launched by Impact46 so far. The company aims to localize innovative technologies by supporting the production of local innovative solutions that aid in developing the national economy and diversifying its sources of income, as per the “Vision 2030″.
Abdulaziz Alomran, CEO of Impact46, confirmed that the fund continues to encourage passionate entrepreneurs in Saudi Arabia and the region by providing venture capital.