RIYADH: Pakistani entrepreneurs and professionals in the Kingdom should become a people-to-people bridge and take a step forward to be highway between the two brotherly Muslim countries for bilateral investments, trade, commerce, and socio-cultural initiatives, said Irshad Salim, a US-based journalist who is also a business and construction consultant.
Salim was speaking as chief guest Friday at the Pakistan Thinkers Forum — a Pakistani expatriates’ socio-intellectual platform here. Community leaders and individuals of all shades of opinion participated in the question and answer session with Salim.
“Pakistanis in the Kingdom, who lead in strength and remittances among the Pakistani Diaspora, must also contribute qualitatively in making the country a tolerant society and a knowledge-based economy like what Pakistanis and Pakistani-Americans in the United States are doing,” he said.
“Skills, expertise and thought-leadership can also be added by overseas Pakistanis here — just as they are adding value in all spheres of the holy land. For this, the Pakistan Thinkers Forum can lead or collaborate with other community platforms. After all, knowledge base is such a powerful God-gifted tool that its quantum exceeds all the renewable energy the nation is seeking today,” said Salim.
Reminding the participants that Riyadh is expected to become a leading global metropolis as announced by Chairman of Arriyadh Development Authority (ADA) Prince Faisal bin Bandar at an exclusive interview with Oxford Business Group (OBG), Salim asked Pakistanis and Pakistani companies to participate in the process not only with a transactional mind, but also seek value-addition through enhancing knowledge base, and CSR activities. “Everything you do, teach or learn here will add to your thinking tools and ultimately benefit Pakistan — if you have the will,” he said.
"Pakistani expatriates worldwide are unaware that collectively they are carrying a moral, ideological and philosophical burden, which I call the Pakistani Diaspora burden, he added. “They need to participate in the nation-building process — it’s not an option,” he added.
Salim also exchanged views and responded to questions on Pakistan's current affairs, particularly the $46 billion Pakistan-China economic corridor, regional peace and Pakistan-India relations particularly Kashmir.
According to Salim, who is on a business visit here after a two-month hiatus in Pakistan, said that generally he found Pakistanis this time are more upbeat and proactive rather than reactive. “There is now more discussion on upcoming events than debates on things of the past. Movers and shakers are discussing solutions and seeking inputs and advises on them rather than focusing on problems. That’s a paradigm shift in the society.”
“The mixing bowl effect the corridor is expected to generate in Pakistan’s socio-economic and cultural domain, may marginalize security issues as well as the dynamics of existing regional negativism. I see Pakistan converting crises into opportunities. Physical boundaries of the country can become contours of a land where Pakistanis can seek and embrace prosperity, and positivism, affirmative action, knowledge base, intellectualism, sustainable living and lifestyle, thought leadership, entrepreneurial activism and nationhood. These are the evolving attributes of ‘Pakistaniat’ which will transform Pakistan,” he added.
Community leaders Khalid Rana, president PML-N Riyadh; Rashid Butt, VP PMN-N Riyadh; Fayyaz Ali Khan, president PPP Riyadh; Fayaz Gilani, VP PTI Riyadh, agreed that Pakistan is the land of opportunities surrounded by countries seeking to do business with it as well with Middle Eastern countries using corridor as the gateway.
Rana Khalid, president of the forum agreed with Salim that Pakistan also needs overseas Pakistanis’ valuable input and knowledge-base in an organized, result-oriented and non-political manner.
“An enabling environment for brain-drain reversal should be initiated,” said Ch. Mobeen, general secretary, PML-N Riyadh.
Concerted efforts should be made in the Kingdom to highlight the opportunities in Pakistan, he said, adding that the Saudi business community should be made aware of them on people-to-people basis so that bilateral investment opportunities can be harnessed,” said Qazi Ishaq Memon, coordinator PPP Riyadh.
Yunus Ghalib, who anchored the session, announced holding such brainstorming sessions on regular basis.
Zahoor Ahmed, SVP, ANP; Sardar Razzak, president PPP Azad Kashmir; Farman Saleem, VP, PPP Riyadh; Tahir Rao, PPP Riyadh; Mubashar Anwaar; and Faisal Alvi of Darussalam were among those present.
Expats urged to become highway for Saudi-Pakistan investments
Expats urged to become highway for Saudi-Pakistan investments
Capital concentrates as MENA startups close deals
- Fresh funding flows in even as broader market data points to a slowdown
RIYADH: Startup funding activity across the Middle East and North Africa delivered a mixed picture over the past week, with fresh capital flowing into gaming, fintech, deep tech, and travel, even as broader market data pointed to a slowdown in overall investment momentum.
Saudi Arabia’s Impact46 led a $1 million investment round in Hypemasters, an international game development studio focused on competitive strategy experiences for mobile. The round included participation from GEM Capital.
Hypemasters develops strategy titles designed for competitive depth and precise game mechanics and has attracted more than 7 million players globally.
The studio is currently advancing several new projects, including a title in soft launch, as it looks to expand its reach in markets with sustained demand for strategy games.
“Strategy is one of the most demanding categories in game development, and Hypemasters approaches it with uncommon discipline. Their work shows a clear understanding of what committed players expect from this genre, and we believe their upcoming titles can serve a global audience with genuine depth,” said Basmah Al-Sinaidi, managing partner at Impact46.
“We are pleased to support a team that builds with intention and long-term ambition,” she added.
Boris Kalmykov, CEO and co-founder of Hypemasters, said: “We’re focused on deepening our presence across the region and pushing forward with the next generation of strategy games, including a major new title already in soft launch. Partnering with Impact46 marks an important step for Hypemasters.”
The CEO added that Impact46 shares his company’s long-term vision for building “world-class strategy games” from the MENA region, and the support reinforces his firm’s commitment to expanding its portfolio with high-quality releases.
The investment reflects Impact46’s continued interest in game development and interactive entertainment and aligns with its broader strategy of backing studios building globally oriented titles.
Premialab raises $220m
UAE-headquartered Premialab, a provider of data, analytics, and risk management solutions for quantitative investing, has raised $220 million in a growth investment led by KKR, with participation from existing investor Balderton.
Founded in Hong Kong in 2016 by Adrien Geliot and Pierre Trecourt, Premialab operates a global platform serving the $800 billion quantitative investment strategies market.
Counterfeits don’t just impact economies; they erase identity, creativity and truth. Along with our investors, we’re building a movement to make the world’s stories verifiable again.
Walid Tarabih, founder and CEO of Relik
The company provides benchmarking, performance analysis, and risk analytics tools for institutional investors.
The funding will be used to support global expansion, strengthen core operational systems, and scale Premialab’s execution product, which was developed in partnership with Eurex, to broaden access to quantitative investment strategies.
“Quantitative investment strategies have grown rapidly in scale and importance, yet the market has lacked a truly independent standard for data, analytics and risk. Premialab was built to fill that gap,” said Adrien Geliot, CEO of Premialab.
Relik closes seed round
UAE-based Relik has closed a seed funding round with participation from KBW Ventures, Naatt Holding, Fort Holding, and Ayman Sejiny.
Founded in 2023 by Walid Tarabih and later joined by John Tsioris, Relik is an artificial intelligence-powered authentication platform designed to help collectors, brands, and marketplaces.
The company plans to use the funding to roll out additional products and expand across sectors including sports, luxury, and heritage markets.
“We are ensuring authenticity in a fakeable world,” said Walid Tarabih, founder and CEO of Relik, adding: “Counterfeits don’t just impact economies; they erase identity, creativity and truth. Along with our investors, we’re building a movement to make the world’s stories verifiable again.”
Prince Khaled bin Alwaleed bin Talal Al-Saud, founder and CEO of KBW Ventures, said: “Relik is creating a new global standard for truth and trust. At a time when counterfeiting and AI-generated content are rising, Relik’s mission to protect authenticity carries both cultural and commercial value.”
Nawah raises $23m
Egypt-based deep tech startup Nawah Scientific has raised $23 million in a series A round comprising a mix of equity and debt, marking a decade since the company’s founding.
The round was led by Life Ventures Holding, with participation from Den Ventures, Empire M, AfricInvest, Elsewedy, as well as banks and angel investors.
Founded in 2015 by Omar Saqr, Nawah operates a cloud laboratory model that enables remote access to advanced testing services. Its operations span four business units covering life sciences, food and agriculture, pharmaceuticals, and certified reference materials.
The company plans to use the funding to build a global research and development center in Rwanda, double laboratory capacity in Egypt and Saudi Arabia, and expand into North Africa and Europe.
Algeria’s VOLZ raises $5m
Algeria-based travel tech startup VOLZ has raised $5 million in a series A funding round led by a consortium of private investors under Tell Group, with participation from Groupe GIBA.
Founded in 2023 by Mohamed Abdelhadi and Hacene Seghier, VOLZ enables travelers to book flights in Algerian dinars using online payments or cash on delivery, while comparing multiple airlines through a single platform.
Announced at the African Startup Conference in December, the transaction is Algeria’s largest startup funding round in local currency and marks the first exit of the Algerian Startup Fund.
The capital will be used to launch new consumer and corporate travel products, strengthen VOLZ’s position in Algeria, and support expansion across North and West Africa.
MENA startup funding slows in November
Investment activity across the MENA startup ecosystem slowed sharply in November 2025, with 35 startups raising a combined $227.8 million, according to Wamda’s monthly report.
This marked a steep decline from the $784.9 million recorded in the previous month and a 12 percent drop compared to November 2024, pointing to a period of consolidation as investors moderated deployment toward the end of the year.
More than half of the capital raised during the month was driven by a single debt-backed transaction by erad, which propelled Saudi Arabia to the top of the regional rankings. Across 14 deals, the Kingdom attracted $176.3 million, accounting for more than three-quarters of all capital deployed in November.
Despite funding activity spanning 35 startups, capital was concentrated in just 5 markets. After Saudi Arabia’s dominant lead, the UAE followed with $49 million across 14 transactions.
Egypt recorded $1.12 million across 4 deals, while Morocco raised $1.1 million through 2 transactions. Oman saw 1 deal with an undisclosed value, with limited activity reported outside these markets.
Fintech emerged as the most funded sector in November, raising $142.9 million across 9 deals, largely influenced by the same debt-driven transaction.
E-commerce followed with $24.5 million across 6 rounds, while property tech, which topped the charts in October, slipped to 3rd with $18.9 million raised by 3 startups.
Debt financing dominated the month, accounting for more than $125 million through a single transaction.
The remaining capital was largely channelled into early-stage startups, with no later-stage funding rounds recorded in November, underscoring continued investor caution.
From a business model perspective, B2B startups captured the majority of capital, with 20 companies raising $197.1 million.
B2C startups lagged, with 9 companies raising a combined $22.2 million, while the remainder was split across hybrid models.
The gender funding gap showed no signs of narrowing, with male-led startups absorbing 97 percent of the capital raised during the month. Female-led and mixed-gender founding teams accounted for the remaining share.
