SparkLabs Saudi Arabia has launched a $20 million venture fund called SparkLabs KSU Fund I, which will back high-potential local and global founders building and scaling companies from Saudi Arabia. The fund has secured an anchor investment from Riyadh Valley Company (RVC), an investment arm of King Saud University.
The new fund will invest across pre-seed, seed and Series A stages, with a strategic focus on Saudi-founded start-ups and ventures emerging from the King Saud University ecosystem. It will allocate up to 20 percent of its capital to international founders committed to localizing and expanding their businesses in the kingdom.
The fund is closely aligned with the King Saud University Entrepreneurship Center, which nurtures student- and faculty-led start-ups through education, mentorship and venture-building support. Fund I will operate alongside the SparkLabs-KSU accelerator program, which supports early-stage founders through mentorship, operational guidance and access to local and international networks. The accelerator is also supported by the National Technology Development Program (NTDP) and builds on SparkLabs’ global accelerator model, which boasts a start-up survival rate of nearly 87 percent.
The capital raised will provide early-stage funding, strategic support and access to SparkLabs’ global platform, enabling founders to accelerate their product development, market entry and international expansion.
“This investment from Riyadh Valley Company reflects strong alignment around the importance of building a globally connected innovation ecosystem rooted in Saudi Arabia,” Ivan Grlic, managing partner at SparkLabs Saudi Arabia, said in a statement. “Through SparkLabs KSU Fund I, we aim to support exceptional founders with capital, hands-on expertise, and access to international markets.”
The fund is now accepting applications from founders building from Saudi Arabia, who can apply here.
In 2024, SparkLabs raised $50 million for an artificial intelligence-focused fund, SparkLabs AIM AI Fund, created to invest in participants in the AIM-X accelerator, which Spark Labs operates, as Venture Capital Journal has reported. AIM-X is part of Saudi Arabia’s Artificial Intelligence Mission.
Founded in 2013, SparkLabs Group is a global network of start-up accelerators and venture capital funds with operations across Asia, the Middle East, Australia, and the United States. SparkLabs has so far invested in more than 600 companies across six continents, with a combined post-money valuation exceeding $56 billion.
SparkLabs has backed and co-invested alongside leading global technology firms and investors. Its portfolio includes category-defining companies in AI, deep tech, enterprise software, and digital platforms. Particularly active in Saudi Arabia, Korea, Taiwan, Australia and the US, the organization enables portfolio companies to scale globally while maintaining strong local foundations.
By partnering with Riyadh Valley Company, SparkLabs KSU Fund I aims to fortify Saudi Arabia’s start-up ecosystem, with a shared objective of attracting global innovation, nurturing Saudi talent and contributing to the country’s long-term economic transformation.
