Merced, a Riyadh, Saudi Arabia-based venture capital firm, closed a sustainability investment fund, at $100m.
The focus of the fund will be mainly on food/agriculture and quality of life sectors (tourism, mobility, energy, education, healthcare).
The vehicle is positioned to bring foreign investment into the Kingdom and provide the support necessary to grow a new generation of SMEs to build upon programs like Vision 2030.
The Merced Sustainability Fund leverages the entrepreneurial and private industry expertise of its team (including NASA, NEOM, Red Sea, AMAALA, Jahez, etc.) to source high-growth companies globally for investment and lead the next generation of private investment into Saudi Arabia to support governmental programs using private venture capital to help build a layer of SMEs that typically generate 60-90% of jobs and GDP.
Led by Mr. Abdullah Al-Nooh, Executive Director, and Founding Partner, and Michael Slage, Founding Partner, Merced has developed an extensive network within the region to be able to identify specific opportunities, source investments to meet those needs, and provide support for companies to be able to establish a presence in the region and service those opportunities. The firm also provides a Value-Add Program to companies to ensure their success in meeting every challenge in doing business in the region.
Merced is a venture capital firm created by two family offices in Saudi Arabia whose current investments generate more than $1B annually in traditional industries like agriculture, real estate, and hospitality. Its mission is to extend that success by launching investment funds focused on the next generation of industries, including sustainability, fintech, tourism, pre-seed, and other high-tech sectors that can benefit from unique market opportunities in Saudi Arabia and the MENA region.
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