BIM Ventures of Saudi Arabia and Japan’s SBI Holdings have announced the establishment of a $100 million joint investment fund to support start-ups within the Kingdom. This significant initiative was formalized through the signing of a Memorandum of Understanding (MoU) between BIM Ventures and SBI Holdings, in collaboration with the Kingdom’s Ministry of Investment. The agreement was reached during the Saudi Vision 2030 Business Forum held in Tokyo this week.

The fund is specifically designed to nurture and support start-ups, with a particular focus on stimulating investments within the Saudi market. This initiative is in line with Saudi Arabia’s Vision 2030 strategy, which aims to boost the private sector’s contribution to the gross domestic product (GDP), attract increased foreign investments, and enhance the Kingdom’s ranking in the Global Competitiveness Index.

Funding from the joint investment fund will be available to businesses during their critical establishment and growth phases, providing the necessary financial resources to foster innovation and development. This initiative is expected to significantly bolster the entrepreneurial ecosystem in Saudi Arabia, facilitating the emergence of new businesses and promoting economic diversification.

“We aim to provide opportunities for start-ups to achieve growth and innovation, fostering bilateral relationships between Saudi Arabia and Japan,” stated Mohamed Amine Merah, Managing Partner and CEO of BIM Ventures. “Our primary goal is to work closely with the Ministry of Investment to attract local and international partnerships, thereby making a positive impact on the Kingdom’s economy.”

This collaboration between BIM Ventures and SBI Holdings represents a strategic effort to not only support start-ups but also to strengthen the economic ties between Saudi Arabia and Japan, contributing to the broader objectives of economic growth and diversification envisioned in Saudi Arabia’s Vision 2030 plan.

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