Khwarizmi Ventures

Riyadh-based venture capital firm that invests in seed and Series A technology startups in the GCC. It runs a $70 million first fund and in 2026 held a first close of more than $70 million for its second fund.

Industry: Venture capital | Location: Riyadh, Saudi Arabia | Founded: 2018

About Khwarizmi Ventures

Khwarizmi Ventures is a Riyadh-based venture capital firm that invests in early-stage technology companies across the GCC. Forbes Middle East says founding partner Yasser AlKadi launched the firm in 2018, and that Abdulaziz AlTurki joined as managing partner in October 2020. Wamda reported the announcement of the first close of its debut, sector-agnostic fund in October 2021. Some directories date the firm to 2021, which appears to reflect the date that fund began operating. Fund I was a USD 70 million vehicle. Everything Startups says it has backed more than 30 startups and completed five exits, while an Egypt Innovate report on the partial sale of Bosta at nearly three times net multiple counts six, naming Tamara, POSRocket, Fatura, Melltoo, Qawafel and Bosta; databases count exits differently. Its portfolio includes Tamara, Calo, Eyewa, HALA and SiFi. In an interview with Al Arabiya Business, AlTurki said about 80 percent of Fund I had been invested at that point. In May 2026 the firm announced the launch of Khwarizmi Venture Capital Fund II. The fund completed a first close in February 2026 with signed commitments above SAR 270 million, or more than USD 70 million, from institutional investors and leading Saudi family offices. Wamda reported in June 2026 that Saudi Venture Capital had backed the fund, and that at least half of its capital is to go to Saudi Arabia. The fund is domiciled in the Kingdom, managed by Khwarizmi Capital and registered with the Capital Market Authority. Latham & Watkins advised on the launch. Some data providers put the first close at USD 70.6 million and note that a final close has not been announced; Jawlah earlier reported a planned fund of USD 100 million to USD 120 million. Fund II targets seed and Series A companies across the GCC, with initial cheques of USD 1 million to USD 5 million and reserves for follow-on investment. It is sector-agnostic, with interest in fintech, consumer technology and AI applications, and the firm offers support with business development, hiring and market entry into Saudi Arabia. The team comprises Managing Partner Abdulaziz AlTurki, partners Homam Meaddawi and Arjun Chopra, and founding partners Dr. Ibrahim Almojel and Yasser AlKadi. Forbes Middle East ranked the firm first in its inaugural Top Venture Capitalists list for 2024. Pitches are accepted through the firm's website.

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