PIF’s Sanabil Backs Mideast Tech Startup Planning For Saudi IPO

PIF’s Sanabil Backs Mideast Tech Startup Planning For Saudi IPO

The venture capital arm of Saudi Arabia’s sovereign wealth fund has backed a $135 million fundraising round for technology firm iMENA Holding as the company plans for an initial public offering in the kingdom.

iMENA Restructures as Saudi CJSC and Announces First Tranche of Pre-IPO Capital Increase - PressReach

$135M Capital Raise, Comprised of Private Placement and In-Kind Contributions, Aims at Increasing iMENA’s Shareholding in Existing Businesses Company completes restructuring into a Saudi company, iMENA Holding Transformation part of evolution into regional digital powerhouse. RIYADH, Saudi Arabia, April 27, 2025 /PRNewswire/ — iMENA Group (“iMENA”), a regional leader in digital platforms in the MENA region, has raised $135 million from Sanabil I…