IslamicFinance.de

The King Abdullah University of Science and Technology (KAUST) and the Islamic Corporation for the Development of the Private Sector (ICD), the private sector arm of the Islamic Development Bank Group (IDB), in collaboration with Anfaal Capital agreed to establish a Saudi Arabia-focused venture capital fund.
The joint initiative aims to promote and foster the development of the domestic venture capital market in Saudi Arabia. The initiative leverages KAUST's expertise in new technologies, as well as the ICD SME Program's experience in the development and management of investment vehicles.