Riyadh - Sharikat Mubasher: The second day of LEAP 2024, the most-attended tech event in the world, witnessed the launch of seven investment funds worth around $835 million.

The largest fund, worth $500 million, was launched by the Saudi Venture Capital Company (SVC) and Investcorp to support companies in their growth stages, with SVC investing $35 million.

Oasis Capital unveiled its second investment fund amounting to $100 million to empower early-stage company founders in the Middle East.

Additionally, Takamol Ventures launched a $50 million fund to foster early-stage technology companies in the MEA market.

The leading startup accelerator Plug and Play also announced its first fund in the region to invest in technology startups in Saudi Arabia and the Middle East and North Africa (MENA) region.

Furthermore, X by Unifonic launched its first fund to support software-as-a-service (SaaS) startups in the MENA region.

A consortium including the National Development Fund (NDF), the Social Development Bank (SDB), the Saudi E-sports Federation, and Ignite launched two gaming and e-sports investment funds. The first, worth $80 million, will be managed by Merak Capital, while the second amounts to $40 million and will be managed by Impact46.