Saudi investors share expertise on Saudi corporate VC opportunities

Saudi investors share expertise on Saudi corporate VC opportunities
The Step Saudi 2020 event featured two prominent Saudi figures — Hashim Al-Awadi, CEO of Tech Invest (bottom left) and Salman Jaffery, chief investment officer at Saudi Aramco Entrepreneurship Ventures (top left). (Supplied)
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Updated 27 November 2020

Saudi investors share expertise on Saudi corporate VC opportunities

Saudi investors share expertise on Saudi corporate VC opportunities

JEDDAH: The two-day Step Saudi 2020 event featured two prominent Saudi figures in the field of investment on the second day.
Hashim Al-Awadi, CEO of Tech Invest, and Salman Jaffery, chief investment officer at Saudi Aramco Entrepreneurship Ventures, both shared their expertise, with the latter saying it is more beneficial for corporations to start a venture capital (VC) arm than invest from their current mergers and acquisitions arm (M&A).
Managing partner at Class 5 Global, Zach Finkelstein, who moderated the session on the second day of the event, said the San Francisco-based venture fund invested in a number of companies in the Middle East.
“The Middle East is particularly interesting to us, and in the past, our partners have invested in such regional companies as Careem. We’re excited to explore the development of the corporate VC space and how it can impact places like Saudi Arabia,” he added.
When asked why a corporation should start a VC arm instead of investing from an M&A team, and why have a separate corporate Venture Capital arm in the first place, Jaffery answered that “it brings faster results.”
“I think the easiest answer to that is just speed and agility,” he said. “Getting that response quickly to the market. VC deals can take weeks or months whereas an M&A transaction can take up to a year or longer, and also similarly, if you’re trying to then come out of it, it’s harder to come out of a joint venture agreement or an M&A as opposed to a VC.”
Al-Awadi explained his opinion a traditional VC perspective, and said: “We like the fact that corporations can invest from both their M&A arms and their VC arms if they have them.”
He highlighted that VC arms can invest in a greater variety of companies. “You have the intelligence, you know the market and if you’re looking at specific technology where we don’t have a lot of expertise we trust that you (other venture capitalists) know the market and you can evaluate that technology better to see if it has the capability and potential for growth or not.
“Eventually, you do have an M&A arm that will provide an exit for us, for an incentive for this company to work hard to grasp the intention after having been invested in by the VC arm of this big corporate to maybe look into making a partial agreement or complete acquisition, which really adds an incentive for the company to grow and attracts other investors and also attracts talent to join the company and help it grow even more.”
He said both the VC and M&A arm are important for company growth. “We tend to look at corporate investors through both arms as complementary to what we do when we have both of them around.”
The Kingdom has obtained a high reputation among investors internationally through the years, especially after the economic and social reforms of Saudi Vision 2030.
Step Saudi is home to the Kingdom’s best entrepreneurs, investors, creatives and digital enthusiasts. The last edition of Step Saudi featured four content tracks, more than 100 startups and over 1,500 attendees.


Dr. Iman Al-Mansour, assistant professor at the Institute for Research and Medical Consultations in Dammam

Dr. Iman Al-Mansour, assistant professor at the Institute for Research and Medical Consultations in Dammam
Updated 32 min 42 sec ago

Dr. Iman Al-Mansour, assistant professor at the Institute for Research and Medical Consultations in Dammam

Dr. Iman Al-Mansour, assistant professor at the Institute for Research and Medical Consultations in Dammam

Dr. Iman Al-Mansour is an assistant professor of epidemiology at the Institute for Research and Medical Consultations (IRMC), affiliated with Imam Abdulrahman Bin Faisal University (IAU), in Dammam.

Al-Mansour led many research projects from conception to execution at the department of epidemic diseases research at IAU and supervised graduate students and junior scientists.

She acted as the principal investigator on a number of key research projects related to the development of nucleic acid-based vaccines, the establishment of several virus bioinformatics databases and analysis resources, and virus immune monitoring studies.

Al-Mansour believes that investment in vaccine research is an important step to combat epidemics and pandemics caused by new viruses. This is followed by the localization of the manufacturing of vaccines and biological medicines.

She served as a Ph.D. researcher at the nucleic acid vaccine (NAV) lab at the University of Massachusetts, US, where she conducted rigorous research in the design, generation, and testing of DNA vaccines expressing HA’s of influenza (H1N1) strains.

Al-Mansour’s research is focused on cutting-edge technology to develop prophylactic vaccines against emerging and re-emerging viruses.

She earned a Ph.D. in biomedical engineering and biotechnology from the University of Massachusetts, US, and a master’s degree in clinical laboratory sciences from the University of Rhode Island, US.

Al-Mansour received her bachelor’s in medical laboratory technology from IAU.

She is also an academic member at the European Virus Bioinformatics Center (EVBC), Germany, and a member at the International Society for Global health (ISoGH), in the UK.