Riyadh - Sharikat Mubasher: Integrated Bio (IB) Ventures announced its official launch as Saudi Arabia’s first dedicated biotech VC Fund, with a capital of $50 million, to foster the next generation of regional startups.
The launching ceremony was attended by IB Ventures' General Partners Faisal Al-Abdulsalam, Hamad Al-Omar, Yazeed Alsufyani, and Mohammed Alangari, according to the official statement.
The fund will launch a business incubator and accelerator to support startups locally and attract global startups, focusing on business development, commercialization, scale-up, and exit.
The launch of the IB Ventures Fund marks a pivotal move toward building an advanced biotech ecosystem in Saudi Arabia, aligning with Vision 2030’s goal of creating an innovation-based economy.
