VC React Podcast (Episode #17)

In this week's episode, we kicked off with news from FII about PIF's plan to scale back foreign investments to approximately a fifth of its total assets, shifting its focus toward domestic funding and AI. We considered what this shift could mean for VCs and startups in the region, potentially opening up new opportunities for local investment, especially at later stages.

Next, we explored Wa’ed Ventures' recent launch of a $100 million fund for AI startups, backed by Aramco. This led us to discuss Saudi Arabia’s deepening commitment to AI, envision what an AI-enabled future for the Kingdom might look like, and ask: What exactly qualifies a startup as “AI-driven,” and is AI an industry or simply a technology?

Last but not least, we analyzsd Invygo’s $8 million Series A extension, supported by STV’s newly launched NICE Fund and existing investors like Al Rajhi Partners, Arab Bank Ventures, SPV, MEVP, and C5. We broke down STV’s “NICE” non-dilutive capital model, comparing it to traditional venture debt, and highlighted the appeal of non-dilutive funding for founders who want to retain ownership.

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This week Ahmad and I had the pleasure to be joined by:

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Abdullah Alessa, (Investment Associate @ Vision Ventures (VV))

‍Jamil Shinawi (Founding Partner @ Actual VC)

‍Kaan Akın (Managing Partner and CCO @ Tenity)

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We covered:

📌 PIF renews focus on domestic investment and AI

📌 Saudi Aramco’s venture capital arm allocates $100m to invest in AI start-ups

📌 Saudi's STV and others invest $8 million in invygo as company seeks profitability

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