Plus VC, a prominent early-stage venture capital firm in the MENA region, has announced ambitious plans to fund over 40 new startups by 2026. This strategic expansion is driven by a significant focus on Saudi Arabia, which is rapidly cementing its position as the region’s primary venture capital hub.
A Surge in Capital Deployment
Founded in 2020, Plus VC is set to more than double its capital deployment, increasing from USD 4.5 million this year to approximately USD 10 million. Having already backed over 250 startups across the Middle East and North Africa, the firm is also preparing to raise capital from external investors for its next fund in 2026, signaling strong confidence in the region’s early-stage ecosystem.
Saudi Arabia at the Forefront
The firm’s strategy heavily leans on the burgeoning Saudi market. The Kingdom’s dynamic growth and increasing deal flow have made it a critical geography for investors looking to capture value in MENA.
In a recent interview with Bloomberg, Hasan Haider, Founder and Managing Partner at Plus VC, commented on the shift: “A lot more deals are taking place in the Saudi market and actually, in terms of amounts of funding, Saudi is now taking over the most out of anywhere else in the region.”
Key Portfolio Investments
Plus VC’s commitment to the Saudi ecosystem is evident in its portfolio. The firm has backed promising local startups, including the foodtech company Calo, which is reportedly exploring a potential listing on the local market by 2027.
More recently, Plus VC participated in a funding round for Strataphy, a Saudi-based startup specializing in advanced cooling solutions, further diversifying its investments into deep-tech and sustainability-focused ventures. The VC plans to continue focusing on key sectors such as construction technology, food waste platforms, and fintech.
About Plus VC
Plus VC is a MENA-focused venture capital firm founded in 2020. It specializes in seed to series A investments, providing crucial early-stage support to startups across the region. To date, the firm has supported more than 250 startups, playing an active role in the development and growth of the Middle East and North Africa’s tech ecosystem.
Source: Waya
