Saudi VC Firm Emkan Launches $31 Million for Early-Stage Startups

Saudi venture capital firm Emkan Capital has announced the close of its first fund, Emkan Capital Fund I (ECP I), with a total investment of $31 million. The fund attracted investment from institutions and businesses around the world, with Silicon Valley-based partners contributing a third of the total capital.

Emkan Capital’s ECP I will focus on pre-seed and seed-stage investments in high-growth potential technology startups across the MENA region. The fund will target sectors such as fintech, e-commerce, logistics, and emerging sectors like AI, cyber, cloud, and health tech.

The firm’s commitment to investing in resilient business models will continue with the help of the ECP I fund, as Emkan Capital offers founders access to its global advisory team’s mentorship, critical corporate partnerships, and tier-1 investor relationships.

“We want to make our mark by supporting founders through mentorship and access to transformational relationships. This region is home to great minds and wonderful stories waiting to be told,” Ghassan Aloshban, General Partner at Emkan Capital, tells StartupScene. “We want to provide capital, but much more than that we want to offer guidance and support to the local talent on their journey to building great businesses.”

Emkan Capital’s portfolio already includes some notable startups, including InvestSky, NovoGenomics, FENIX, Trukkin, Mojo, Awaed, and Hubpay. The firm’s team of investors and entrepreneurs collectively brings nearly 50 years of experience in investing in businesses and working with founders across the KSA, the UAE, the US, and Asia.