Saudi Arabia-based private markets platform OORI has secured a licence from the Capital Market Authority (CMA) to conduct arranging and advising activities, clearing the way for its operational launch.
Founded in 2023 by Elie Nasr and Naif Al Ajmi, OORI is building a regulated platform for qualified investors in Saudi Arabia to access Shariah-compliant private market opportunities. It will initially focus on technology companies from pre-seed through pre-IPO stages.
OORI raised a seven-figure US dollar pre-seed round in 2024 from strategic investors, family offices and angel investors across Saudi Arabia, the GCC and Europe, including Bunat Ventures and RZM Investments. The company said it used the funding to develop its technology platform, complete the licensing process and prepare for launch.
The platform has also established partnerships with investment banks, venture capital firms, private equity funds, wealth managers, family offices and independent financial advisors. OORI plans to expand into additional alternative asset classes, with a longer-term roadmap that includes tokenisation, smart contracts and digital investment infrastructure.
Source: Wamda
