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A $40m fund set up in KSA

By TRENDS Desk
April 6, 2022 5:26 pm
  • One of Al Moammar primary objectives is developing technology start-ups with the focus on disruptive and innovative technologies
  • The company said it intends to establish a business incubator, accelerator, and innovation lab, either within the company or as a separate subsidiary

Saudi technology firm Al Moammar Information Systems Co. has teamed up with Saudi Fransi Capital to set up a $40 million private fund for venture capital investments in the technology sector within the kingdom.

One of Al Moammar primary objectives is developing technology start-ups with the focus on disruptive and innovative technologies, according to a bourse filing.

The company said it intends to establish a business incubator, accelerator, and innovation lab, either within the company or as a separate subsidiary.

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