Palm Ventures Launches $30 Million Fund for Startups in AI Sectors

Saudi-based Palm Ventures has announced the closing of a $30 million investment fund aimed at supporting early-stage startups in the MENA region, with a particular focus on artificial intelligence, fintech and business solutions. The fund will also allocate a portion of its investments to US-based AI startups, reflecting a broader emphasis on global technological advancements.

Startups selected for funding will receive both capital and strategic guidance to aid their expansion and innovation efforts. Since its establishment in 2014, Palm Ventures has backed over 40 startups across various industries. Between 2020 and 2024, the firm invested in 20 startups spanning the MENA region as well as AI-focused ventures in the US.

In addition to working with private sector companies, Palm Ventures has collaborated with government entities on innovation-driven initiatives. As the MENA startup ecosystem experiences rapid growth, the firm’s investments align with ongoing efforts to accelerate digital transformation and foster technology-driven economic expansion.