General Atlantic, a powerhouse global growth investor, makes waves with the grand unveiling of its sparkling new office in Riyadh, Kingdom of Saudi Arabia. This strategic move solidifies General Atlantic’s unwavering dedication to investing in the Kingdom’s vibrant and booming economy, while also forming crucial partnerships with entrepreneurs making waves within the region’s bustling innovation hub.
The fresh office is poised to turbocharge General Atlantic’s growth game plan in the Middle East and North Africa (MENAT), building upon a triumphant decade of investments in the region. It will bring top executives closer to the action, allowing them to forge stronger bonds with local entrepreneurs and burgeoning companies, thus advancing the firm’s key investment strategies across Technology, Healthcare, Financial Services, Consumer, and Climate sectors.
Since 2012, General Atlantic has been actively pumping nearly $1 billion into the MENAT region across various investments. Notable portfolio gems include eyewa, a regional eyewear retail disruptor; Property Finder, a Dubai-based online real estate powerhouse; Network International, a payments juggernaut; and Trendyol, a regional e-commerce sensation. Past investments such as Yemeksepeti, an online food ordering trailblazer gobbled up by Delivery Hero, and Network International, a payments titan based in the UAE, underscore General Atlantic’s prowess in the region.
Strategic Masterstroke: General Atlantic’s MENAT Expansion
– Explosive Growth in MENAT: The MENAT region is a hotbed of growth, with the Middle East projected to surge by around 4 percent in 2025 and 2026, potentially unlocking a staggering $1 trillion in GDP through economic diversification.
– Thriving Entrepreneurial Landscape: Government initiatives are nurturing a new breed of entrepreneurs in the region, focusing on key skills like data analytics and AI. Saudi Arabia aims to upskill 40% of its workforce in these areas, capitalizing on a young, tech-savvy population and robust internet and mobile connectivity to drive digital transformation.
– Booming Venture Capital and Capital Markets: Venture capital investment is on the rise in the region, with Saudi Arabia witnessing a tenfold surge in funding since 2020. Capital market reforms have paved the way for over 75 IPOs exceeding $100 million in MENAT since 2021, satisfying investor appetite and bolstering economic diversification.
