Pinnacle launches Saudi VC fund for growth-stage, secondary deals

Saudi Arabia-based investment firm Pinnacle Capital has launched a venture capital fund focused on growth-stage companies and secondary investment opportunities in the Kingdom. The fund will invest through both primary funding rounds and secondary transactions.

Pinnacle, which is affiliated with the Watar Partners network of firms, says the strategy is designed to address a gap in Saudi Arabia’s maturing venture market: a growing pool of established and profitable growth-stage companies facing relatively limited access to growth capital and exit opportunities compared to more developed markets.

Sector focus and thesis

The fund will target technology businesses across several sectors. In fintech, Pinnacle points to regulatory developments and the ongoing shift towards digital financial services. In e-commerce, it sees room for further growth as penetration in Saudi Arabia remains below levels seen in more developed global markets.