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Khwarizmi Ventures announced that its second fund reached a first close in February with commitments exceeding SAR 270 million ($70 million+), primarily from institutional investors and leading Saudi family offices. The firm plans to deploy the capital into seed and Series A rounds, writing initial checks of $1 million to $5 million with follow-on capacity.
This builds on the strong track record of its first fund, which invested in over 30 startups — including Calo, Eyewa, Tamara, and HALA — and delivered five exits within five years.
According to the firm, Saudi Arabia’s startup ecosystem reached a record $1.7 billion in funding across 257 deals in 2025, marking a 145% increase year-over-year. The Kingdom benefits from favorable demographics (71% of the population under 35), high digital adoption (85% of retail transactions via electronic payments), and strong government digital infrastructure (ranked 6th globally in the UN’s 2024 E-Government Development Index).
The new fund maintains a sector-agnostic approach with a focus on fintech, artificial intelligence, enterprise software, e-commerce, and emerging technologies. Khwarizmi Ventures intends to back more than 20 companies, acting as an active partner that supports founders with business development, talent acquisition, fundraising, and regional expansion.
The firm is led by Managing Partner Abdulaziz Al-Turki and includes General Partner Homam Meaddawi, Partner Arjun Chopra, and founding partners Dr. Ibrahim Almojel and Yasser Alkadi. This team brings together deep regional expertise with global networks across the US, India, and the GCC.
Portfolio companies from Fund I have created over 7,500 full-time jobs, improved financial health for 500,000 users, and helped 120,000 people adopt healthier lifestyles. Khwarizmi Ventures has already begun deploying capital from Fund II and is inviting GCC technology founders to submit pitches via its website.
