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Startup funding in Saudi Arabia: a founder's guide for 2026

Editorial

By TrustList Editorial

What Monsha'at, SVC, Jada, KAUST, TAQADAM, Misk, the Social Development Bank and private VCs offer Saudi founders in 2026, and which programmes we could not confirm.

About Startup funding in Saudi Arabia: a founder's guide for 2026

Startup funding in Saudi Arabia: a founder's guide for 2026

Saudi Arabia has a layered startup funding system. There are government authorities, state-owned funds that invest in venture capital funds, corporate and university investors, accelerators, a development bank that lends to entrepreneurs, and a growing group of private venture capital firms.

That choice is good for founders, but it also causes confusion. Several of the biggest names never invest in a startup directly. Others only accept companies that are based in the Kingdom or willing to move there. Some official websites cannot be opened from outside Saudi Arabia at all.

This guide is for founders already building a company in Saudi Arabia, and for founders elsewhere who are thinking of expanding to the Kingdom. It explains what each main programme offers, where the public information is incomplete, and how to approach private investors.

Every amount, date and count here comes from the organisation's own website, or from the page of the company that runs the programme, and all are listed under Sources. Terms change often. Treat every figure as correct at the time of writing (September 2026), and check the official page before you apply. This guide is general information, not legal, tax or financial advice.

How the Saudi funding system fits together

It helps to sort the organisations by what they do with money.

  • Enablers and grant bodies. Monsha'at, the SME authority, and the Research, Development and Innovation Authority (RDIA) set policy, run programmes and, in RDIA's case, list grant schemes. Neither is a venture investor.
  • Funds of funds. Jada and the Saudi Venture Capital Company (SVC) put money into venture capital, private equity and debt funds, which then back startups. SVC also invests in companies directly.
  • State, corporate and university investors. Sanabil Investments (part of the Public Investment Fund, PIF), Wa'ed Ventures (Aramco) and KAUST Innovation Ventures invest in companies.
  • Accelerators. TAQADAM, the Misk programmes and the Sanabil Accelerator by 500 Global combine training and support with, in some cases, funding.
  • Loans. The Social Development Bank lends to entrepreneurs and small businesses.
  • Private venture capital firms. Firms such as Impact46, Merak Capital, Raed Ventures, STV and Vision Ventures raise their own funds and invest in startups.

A lot of state money reaches startups through private fund managers. The route to a fund of funds is usually a venture capital firm it has backed.

Government bodies and funds of funds

Monsha'at

The Small and Medium Enterprises General Authority, known as Monsha'at, was established in 2016 by a Council of Ministers resolution. Its About page says it supports programmes to foster an entrepreneurial mindset, diversify financial support for businesses and stimulate venture capital initiatives.

Treat Monsha'at as a starting point for services and programmes, not a source of cheques: we could not verify any startup funding amounts on its official pages. Its website timed out from outside Saudi Arabia when we checked, so we read an archived copy from September 2026.

Saudi Venture Capital Company (SVC)

The Saudi Venture Capital Company was established in 2018 and is a subsidiary of the SME Bank, part of the National Development Fund. Its homepage says it has invested in 65 private capital funds, which between them have invested in more than 1,000 startups and SMEs. Both are running totals.

SVC works in two ways:

  • Fund investments. It invests in venture capital funds, including accelerator and startup studio funds, and in venture debt and private debt funds. It may contribute up to 65% of a fund's total size, and the combined contribution of Saudi government-affiliated entities is also capped at 65%.
  • Direct investments. It invests in Saudi-based companies and companies expanding to Saudi Arabia. At the time of writing (September 2026), the minimum ticket is SAR 1,000,000 ($267K), and SVC's contribution is capped at 30% of each round.

That 30% cap matters. SVC invests alongside others, so you will need other investors for at least 70% of the round. We found no online application form; the route on the website is the contact page.

Jada Fund of Funds

Jada was established by a Council of Ministers resolution and launched by PIF in 2018. It backs Saudi-focused venture capital, private equity and private debt funds, which in turn finance small and medium enterprises. Its homepage shows 47 portfolio funds and "3.5 B" in total investment commitments, without stating the currency. These are live counters and will change.

Jada takes proposals from fund managers, not from startups, and runs an Emerging Manager Program for newer fund managers. For founders, Jada matters indirectly: the Saudi-focused funds it backs are the ones that may invest in you.

Research, Development and Innovation Authority (RDIA)

RDIA's Funding section lists a Saudi Innovation Grants Program and an IP Commercialization Incentives Initiative. That is as far as we could verify. RDIA's website refused connections from outside the Kingdom, so we could not read grant amounts, phases or eligibility on an official page. If you see figures quoted elsewhere, check them with RDIA before you rely on them.

State, corporate and university investors

Sanabil Investments and the Sanabil Accelerator

Sanabil Investments is a PIF company. PIF's page describes it as committing approximately $3 billion a year to private investments, including venture, growth capital and small buyouts, and as offering patient capital and the ability to invest across several funding rounds. We found no public application route for startups. For most early-stage founders, Sanabil matters more through the programmes it supports than as a direct pitch.

The most visible of those programmes is the Sanabil Accelerator by 500 Global, formerly the Sanabil 500 MENA Seed Accelerator. According to 500 Global's page:

  • it runs for 12 weeks in Riyadh
  • it is for tech startups with a minimum viable product, focused on the Middle East and North Africa
  • selected startups may receive an equity investment of USD $100,000 or more from 500 Global, subject to terms and conditions
  • the programme fee for Phase 1 is $35,000 per startup, excluding travel

Note the fee: not every accelerator is free. The page's dates also disagree. Its header shows a programme running from 27 September to 9 December 2026, while the application text says the application period closed on 5 March 2026. Ask 500 Global which cohort is open before you apply.

Wa'ed Ventures (Aramco)

Wa'ed Ventures is Aramco's venture capital fund. Aramco's page says it invests in local tech-based startups and in bringing pioneering global innovations to Saudi Arabia, with tickets of up to $20 million per deal from a $500 million fund, a figure the page itself dates "as of 2022". The same page describes a 12-month business incubation opportunity for local entrepreneurs, with mentoring and office and co-working space.

Wa'ed's own website returned no readable text, so these details come from Aramco's page, and because the fund size is dated 2022, current figures may differ. Check them with Wa'ed directly.

KAUST Innovation Ventures

KAUST Innovation Ventures is the venture fund of King Abdullah University of Science and Technology. It backs companies from pre-seed to early Series A, through convertible notes and equity, often alongside co-investors.

Its page describes cheque sizes in two ways: typical tickets of $100K to $700K in one passage, and up to $500K at seed stage and up to $2M at early stage in another.

To be considered, a company should be operating in, incorporated in, or willing to relocate to Saudi Arabia. It should have a solution ready for market, with paying customers and early revenue. Expect to submit a pitch deck, a business plan and supporting financials.

Accelerators and programmes for early-stage founders

TAQADAM

TAQADAM was founded in 2016 by KAUST in partnership with the bank SAB. At the time of writing (September 2026), its homepage says teams receive $40,000 in funding, and 10 startups secure a further $100,000 in follow-on funding at the annual showcase. That is how it arrives at "up to $140,000". KAUST describes the funding as non-dilutive and adds access to co-working spaces across Saudi Arabia.

TAQADAM welcomes Saudi startups and international startups with plans to expand to the Kingdom. International applicants need a clear, realistic plan to expand to Saudi Arabia within one year of the programme start. At least two team members must be able to attend all required activities. The homepage gives an application email address rather than a form, so ask how the current intake works.

Misk Launchpad and Misk Accelerator

The Misk Foundation runs two entrepreneurship programmes:

  • Misk Launchpad is fully sponsored by the Misk Foundation. Its page says investment-related support "may be extended" to high-potential startups, so do not plan around it. It is open to Saudi nationals and to non-Saudis with a strong commitment to testing and launching their venture in Saudi Arabia. It is delivered entirely in English. A team of two or three co-founders is ideal, but solo founders can apply.
  • Misk Accelerator is a three-month, zero-equity accelerator for seed-stage tech startups.

Outside Saudi Arabia, Misk's websites say the service is available only within the Kingdom, so we read archived copies: the Launchpad copy from August 2026, and the Accelerator copy from December 2025. The Accelerator copy shows no cohort dates, so we could not confirm a 2026 intake.

Badir: status unconfirmed

The Badir Program for Technology Incubators and Accelerators is a national programme for turning technical projects and research into businesses. We could not confirm that it is still operating: its website did not resolve in September 2026, and its operator BIAC's page would not load either. An archived June 2025 copy of BIAC's page said it operated 8 incubators and 4 accelerators across the Kingdom. Treat that as historical until BIAC confirms the current position.

A programme that has ended

Flat6Labs' Riyadh Seed Program is now marked as not active on Flat6Labs' programmes page. Flat6Labs described its sixth demo day in Riyadh as marking the conclusion of six accelerator cycles. If an older article points you to it, look elsewhere.

Loans from the Social Development Bank

Not every founder wants to sell equity. The Social Development Bank (SDB), a government development bank, offers long-term financing to entrepreneurs and startups through electronic products. At the time of writing (September 2026), its pages describe:

  • Entrepreneurs financing from 50,000 to 500,000 SAR for the assets and operating costs of new projects and startups, with repayment over up to 9 years (108 months). The page lists 9% administrative fees and 2% annual service fees.
  • Financing for innovative or technical projects of up to 4 million riyals, with an investment cost of up to 12 million, a grace period of up to two years and repayment over up to eight years.
  • A product for IT companies, run with the National Technology Development Program, for micro, small and medium enterprises in the information technology sector, with a ceiling of up to SAR 8.5 million.

A loan has to be repaid whether or not the business succeeds, and fees add to the cost. The detailed eligibility criteria were not visible in the page text we read, so confirm them with SDB.

Private venture capital firms

Most equity rounds are raised from private venture capital firms. The five below are among those active in Saudi Arabia. They are listed alphabetically, not ranked or recommended, and each description is based on what the firm publishes on its own website.

  • Impact46 is a Riyadh investment firm licensed by the Capital Market Authority (CMA). It says it invests in Saudi and regional tech-driven startups through sector-focused and diversified funds, and it has announced a gaming fund with capital of 150 million Saudi riyals. It also has private equity and fixed-income activities.
  • Merak Capital was founded in Riyadh after receiving CMA operating approval, and invests across venture capital, private equity, private credit and real assets. Its About page lists a Merak Technology Ventures Fund (SAR 131.25 million) and a Merak Gaming Fund (SAR 306 million). It runs accelerators through its subsidiary, Exel.
  • Raed Ventures says it opens doors for startups from the Middle East and North Africa to work in the Saudi and wider Gulf markets. It runs RaedPlus, which matches its founders with experts, helps them recruit and gives them access to free services. It takes applications through a form on its website.
  • STV says it has invested in more than 30 startups in the region since 2018. Its funds include a $100 million AI fund backed by Google. It also offers NICE (Non-dilutive Investment in Callable Equity), which it presents as an alternative to traditional venture debt.
  • Vision Ventures is based in Dammam. It says it is keen to be a lead investor and to take an active role on the board. It asks for a minimum viable product, a legal entity (or one about to be incorporated) and a large target market, and it has launched its second fund. Its website shows no dated activity from 2026, so confirm it is making new investments.

Fund sizes describe how much a firm manages, not whether it suits you or how well it has performed.

How to approach a private investor

  • Check fit before you pitch. Read each firm's website for the stages, sectors and countries it invests in, and whether it leads rounds.
  • Use the front door, and an introduction if you can. Where a firm has an application form, use it. An introduction from a founder it has backed, or from an accelerator you attended, often helps.
  • Prepare the basics. A short deck, your traction, how much you are raising and what it will pay for. If you are not yet a Saudi company, explain your plan for setting one up.
  • Ask your own questions. Who else is in the round? Does the fund keep money for follow-on investment? Do its own investors attach conditions, such as a presence in the Kingdom?
  • Check the paperwork. Fund managers such as Impact46 and Merak Capital say they are licensed by the CMA. Ask which legal entity will invest and, where a licence applies, confirm it. Speak to founders the firm has backed.

Riyadh, Jeddah and the rest of the Kingdom

Riyadh is where most of this guide happens. It is the capital and the seat of ministries and state funds. Jada, Impact46, Merak Capital and Raed Ventures are Riyadh-based, and the Sanabil Accelerator runs there. TrustList's ranking of venture capital firms in Riyadh is a place to start a list.

Jeddah is the main commercial city on the Red Sea coast. KAUST is on the same coast north of the city, which ties KAUST Innovation Ventures and TAQADAM to the western region and to research-based startups.

The Eastern Province is home to Aramco, the parent of Wa'ed Ventures, and to Vision Ventures in Dammam.

Wherever you base yourself, note how many programmes ask you to be in the Kingdom or to commit to moving there: SVC's direct investments, KAUST Innovation Ventures, TAQADAM and Misk Launchpad all do. Setting up a Saudi company involves Commercial Registration and other local steps, so take legal and accounting advice first. When you start hiring, our guide to tech talent for Saudi projects covers working hours, languages and Saudization.

How to use TrustList's funder rankings

TrustList's ranking of startup funding programmes in Saudi Arabia lists programmes and schemes, and the Riyadh venture capital ranking lists private investors. Know how they are built:

  • They are based on what funders publish. TrustList's investor rankings draw on what funders say on their own websites, such as the stages and sectors they invest in and where their offices are. They are not based on investment performance or returns, so a higher position does not mean a better investor for you.
  • Nothing paid counts. Sponsored placements are labelled and never add to a position. Our trust and methodology page explains how TrustList keeps rankings independent.
  • They are a starting point. Use them to build a list, then check each funder's current terms on its own website.

Every investor and programme profile on TrustList also has a form to request an introduction. The TrustList team reads each request and passes on only those that fit the funder's stage and focus, with your pitch and contact details. It costs nothing, and a funder is not obliged to reply.

TrustList does not give legal, tax or financial advice. Before you sign a term sheet or a loan agreement, take advice from qualified professionals.

A checklist before you apply

  • Decide whether you need equity, a grant, a loan or support without money.
  • Check whether the programme invests in startups or only in funds.
  • Confirm current amounts, fees and deadlines on the official page.
  • Read the location rules: many schemes require a Saudi presence or a plan to move.
  • Look for fees as well as funding.
  • For co-investors such as SVC, line up the rest of the round first.
  • Treat programmes whose status is unconfirmed, such as Badir, as unverified until you hear back.
  • Take legal, tax and financial advice before you sign.

Sources

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