Saudi Arabia’s Watheeq launches $26.7m PropTech venture capital fund for Mena investments
- Date: 21-Jun-2021
- Source: The National
- Sector:Financial Markets
- Country:Saudi Arabia
Saudi Arabia’s Watheeq launches $26.7m PropTech venture capital fund for Mena investments
Watheeq Financial Services, a Saudi Arabia-based investment management and financial advisory company, is launching a venture capital fund worth 100 million Saudi riyals ($26.7m) that will invest in property technology start-ups in the kingdom and in the region.
The Watheeq PropTech VC Fund is a closed-ended venture capital fund and is Sharia-compliant, the company said in a statement on Sunday.
The Saudi Arabia Capital Market Authority-licensed fund is expected to reach its initial close in the third quarter of this year.
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