BIM Ventures launches its second fund with a value of SAR 120 million

BIM Ventures launches its second fund with a value of SAR 120 million

BIM Ventures launched its second venture building investment fund, “BIM Investments II” with a value of SAR 120 million, which accounts to almost 32 million, to contribute to the region’s startup ecosystem through venture building.

BIM Investments II’s strategy will primarily focus on building startups alongside founders, starting with idea validation and until market launch. It will also provide emerging local tech companies with the capital, expertise, and operational support they need to grow and prosper in the market.

In its second round, the fund will focus on PropTech, InvestTech, FinTech and will be open to platform verticals in other sectors. In addition, BIM will continue to concentrate on Saudi-born ideas and startups while expanding in the MENA region by launching its satellite offices in Egypt and the UAE later this year.

“This investment vehicle is a continuation of its predecessor and is aligned with the venture-building fundamental principle in the acting as institutional co-founders. BIM philosophy is to make sure founders build business models that prioritize financial sustainability. We believe in startups that balance strong growth and healthy cash flows by being capital efficient and focusing on unit economics that make sense early in the building journey,” Mohamed Amine Merah, BIM’s Founder and Managing Partner, said.

The venture studio’s first fund was launched in January 2020 as the first pure-play fund for a venture building studio in Saudi Arabia, and it had co-built and invested in 20 tech startups. BIM targets pre-inception ideas, pre-seed, and seed-stage tech startups.

Read more: MNT-Halan accquires B2B e-commerce platform Talabeyah

If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.