Saudi Arabia is rapidly positioning itself as a leading force in the Middle East's technology sector, with industry experts labeling it the ‘center of gravity’ for regional startups.

This assertion was articulated by Mohammed Al-Zubi, founder of Nama Ventures, during an interview at the LEAP 2025 Tech Conference, a high-profile event showcasing advancements in various tech fields.

Al-Zubi highlighted the remarkable evolution of the conference from its inception in 2023 to the current event, noting the significant announcements made by key figures, including Minister Al-Swaha, which marked a pivotal moment for the sector.

He asserted that Saudi Arabia currently leads regional metrics related to investment and market growth, indicating a shift in the technology landscape of the Middle East.

As an early-stage venture capital firm, Nama Ventures places emphasis on investing in teams demonstrating complementary skills and clearly defined roles, prioritizing team dynamics over individual ideas.

Al-Zubi expressed that a successful investment hinges on both micro-level evaluations of the founding team and macro-level assessments of their ventures, underscoring the validity of 'team, team, team' in the startup world.

In contrast, the firm refrains from investing in solo founders unless their track record is highly commendable, favoring teams characterized by a mix of accountability across varied functions, such as operations and sales, to increase the chances of success.

Nama Ventures has shown a preference for established business models rather than entirely novel concepts, opting for adaptations and localizations of proven ideas.

Al-Zubi noted a pragmatic approach towards potential 'copycat' startups, advocating for the innovation of existing successful models tailored to the regional market.

The firm has expressed a strong inclination towards sectors that exhibit tangible transaction-based revenue streams, such as financial technology (fintech) and property technology (proptech), while also indicating a comprehensive integration of artificial intelligence (AI) across various industries.

Al-Zubi stated that AI should not be viewed as a standalone sector, but rather as a vital component integrated into diverse domains, emphasizing its critical role in modern businesses.

In line with industry trends, Nama Ventures adopts a highly engaged investment strategy, actively supporting portfolio companies rather than taking a passive role.

Al-Zubi detailed how their extensive experience in technology and entrepreneurship enables them to provide substantial value-add support, which includes helping startups navigate the complexities of fundraising and enhancing their technical infrastructures.

Nama Ventures has adopted an unconventional funding approach, sourcing capital primarily from high-net-worth individuals and family offices instead of traditional institutional investors.

This method allows the firm to operate with a diverse Limited Partner (LP) base that recognizes the inherent risks of early-stage investments.

According to Al-Zubi, notable portfolio success stories from Nama include startups such as Tamara, Salla, and Calo, which are on trajectories toward initial public offerings.

The Kingdom's government initiatives have been central to fostering a viable tech startup ecosystem, with various programs aimed at attracting global tech players while simultaneously nurturing local enterprises.

Al-Zubi contended that Saudi Arabia boasts an unparalleled support system for tech startups, facilitated by collaboration among government entities.

As the startup landscape evolves, Al-Zubi encourages potential entrepreneurs to take on the challenge of starting their own businesses.

He emphasized the importance of adaptability and the iterative nature of entrepreneurship, advising that continuous refinement of business models increases the likelihood of achieving product-market fit.