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Palm Ventures is a venture capital firm established in 2014, initially as a business unit under a consultancy firm. In 2021, it transitioned into a standalone entity dedicated to technology startup investments. The firm primarily supports the entrepreneurship ecosystem in Saudi Arabia, having backed over 40 startups since its inception. Palm Ventures has a strong commitment to driving innovation and commercialization in the region, collaborating with various government institutions.
As of now, Palm Ventures manages a fund size of $30 million and has made 17 investments, achieving a reported internal rate of return (IRR) of 41%. The firm operates from two office locations in Saudi Arabia: Riyadh and Jeddah. Its team comprises experienced professionals with backgrounds in technology and investment, further enhancing its capability to support portfolio companies.
Palm Ventures primarily invests in early-stage B2B solutions and fintech startups within the Middle East and North Africa (MENA) region. The firm targets pre-seed, seed, and seed+ (extension) stages, focusing on technology-driven entrepreneurship. The check sizes are not explicitly stated, but the firm has a $30 million fund aimed at supporting approximately 40 deals.
In addition to its core focus on fintech, Palm Ventures has recently expanded its investment thesis to include US-based AI startups, indicating a strategic evolution in its investment approach. The firm leverages a network of over 30 investors and advisors to provide strategic guidance and support to its portfolio companies, enhancing their growth potential and market reach.
Palm Ventures has built a diverse portfolio of 20 companies, primarily in the fintech and B2B sectors. Notable portfolio companies include:
This portfolio reflects the firm’s commitment to investing in technology-driven solutions that address the needs of businesses in the MENA region. The firm has made 17 investments in total, with a focus on B2B SaaS, fintech, and AI-enabled companies.
Dr. Yassir Nasief - Co-Founder. Dr. Nasief has a background in technology and entrepreneurship, contributing to the firm's strategic direction.
Eng. Redwan Abudawood - Co-Founder, Fund Manager, Board Member. Abudawood has extensive experience in venture capital and has led several notable investments.
Talal Alafghani - Venture Partner. Alafghani brings expertise in technology investments and startup growth strategies.
Saleh Farea - Venture Partner. Farea has a strong background in finance and investment management.
Talal Aljedaibi - Board Chairman. Aljedaibi has significant experience in corporate governance and strategic oversight.
Asjid Hayat - Venture Partner. Hayat specializes in early-stage investments and market analysis.
Redwan Abudawood - Venture Partner. Abudawood has a proven track record in supporting technology startups.
Benjamin Stein - Venture Partner. Stein focuses on investment strategy and portfolio management.
Dr. Omar Bakr - Venture Partner. Dr. Bakr has expertise in technology commercialization and innovation.
Salman Butt - Venture Partner. Butt has experience in venture capital and startup mentorship.
To pitch to Palm Ventures, founders should send an email to info@palm-ventures.com. It is essential to include a comprehensive pitch deck that outlines the business model, market opportunity, and team qualifications. The firm values clear communication and expects a well-structured presentation.
Response times may vary, but founders should anticipate a thorough review process. Warm introductions through mutual connections can enhance the chances of receiving a timely response.
In late 2025, Palm Ventures co-led a $10 million pre-seed round for UPFRONT, a UAE-based fintech, alongside strategic angel investors. This investment reflects the firm's active engagement in the MENA startup ecosystem.
As of 2026, Palm Ventures has made a total of 17 investments and reported a 41% internal rate of return (IRR) on its portfolio. The firm has also launched a mini-fund for four US-based AI startups in collaboration with Cartography Capital, indicating its commitment to expanding its investment strategy beyond the MENA region.
What are Palm Ventures' investment criteria?
Palm Ventures focuses on early-stage B2B solutions and fintech startups within the MENA region. The firm looks for innovative technology-driven companies that can leverage its extensive network for growth.
How can startups apply or pitch to Palm Ventures?
Startups can pitch to Palm Ventures by sending an email to info@palm-ventures.com. It is advisable to include a detailed pitch deck outlining the business model, market opportunity, and team background.
What makes Palm Ventures different from other VC firms?
Palm Ventures distinguishes itself through its strong focus on the MENA region, particularly Saudi Arabia, and its collaboration with government institutions to drive innovation. The firm also has a robust network of over 30 investors and advisors that provide strategic support to portfolio companies.
What is the geographic scope of Palm Ventures?
The firm primarily operates within the MENA region, with a specific focus on Saudi Arabia. Recently, it has expanded its investment strategy to include US-based AI startups.
What is the fund size and check size range?
Palm Ventures manages a fund size of $30 million, targeting investments in approximately 40 deals. While specific check sizes are not disclosed, the firm focuses on early-stage investments.
What is Palm Ventures' post-investment involvement?
Palm Ventures adds value to its portfolio companies through strategic guidance, access to a vast network of industry experts, and collaboration with government institutions to enhance innovation and commercialization efforts.
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