Wadi Makkah Ventures Co., owned by Umm Al-Qura University, announced its 40 investments in a number of startup companies through the company’s venture capital investment fund. This was part of its investment portfolio in a number of startup companies in the initial funding stages (Seed Funding).

Among the most important investments to which the company recently contributed through its Growth Business Incubator were four projects that provide services via electronic platforms. Work is currently underway to register them as startup companies. The first project is the Matajer Co. that operates a platform to provide services for building electronic stores. The second project is the Doctor Tech Co. for the repair and maintenance of mobile devices and smartphones. The third project is the Bab Makkah Co., which owns a platform for marketing craft products for entrepreneurs, and the fourth project is the Dental Carts Co., which is the first e-commerce website specialized in the sale of medical equipment and dental care equipment in the Middle East and Africa and which links authorized agents with customers.

The investment portfolio also included three additional startup companies that offer solutions in the field of educational technologies. The first company is the Creative Minds Co., an electronic platform that connects parents with educational advisors and aims to harness children's skills and capabilities. The second is the Excellence Co., an electronic platform that provides educational content for students and helps them pass tests and educational assessments, and the third is the Sibawayh Co., a training platform that helps Arabic-speaking individuals improve and develop their language skills by harnessing modern technology.

Moreover, the company also invested in the Mabeet Co., a platform that connects the pilgrims, both campaigns and individuals, performing Hajj and Umrah who are seeking accommodation with owners of houses who have permits to provide accommodation services in Makkah and Madinah. This is in addition to investment in the Sariyah Co., which is specialized in providing tourist guide services for pilgrims performing Hajj and Umrah.

His Excellency Eng. Khalid Abdul-Ghani Sulaimani, Chairman of the Board of Directors of Wadi Makkah Ventures Co. and Chairman of the Investment Committee, stated that the company is keen to channel the investments to companies that serve the general strategy of the fund. This strategy aims to serve the Hajj and Umrah economies in general and the economy of the Makkah region in particular through the third specialized investment portfolio of Wadi Makkah Fund, which is specialized in the (Series A) funding rounds. The company also gives priority to the development of the companies of the second investment portfolio of Wadi Makkah Fund. Three companies from the second portfolio received additional investments from the fund this year. In fact, such additional investments are not new for the companies of Wadi Makkah Ventures Co.; five companies from the first portfolio (Averos, Lucidya, BioKubes, Breez, and Hazen), whose investments started five years ago, received additional financing from external funds. Accordingly, the portfolio's valuation tripled and is expected to rise more with the upcoming rounds, Allah willing.

The CEO of Wadi Makkah Ventures Co., Dr. Faisal Allaf, stressed that the company aims to diversify its investments in local and international startup companies, contribute to its various initial and advanced funding stages, and revitalize the economic channels, achieving this objective and vision of the company in line with the Saudi Vision 2030.

To browse the brochure on "Contributions of Wadi Makkah Ventures Co. to Achieve the Saudi Vision 2030", click here.