Fundraising Fox
Oqal
Angel networkRiyadh · Pre-Seed–Seed
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Investment thesis
Oqal operates as a nonprofit endowment platform bridging angel investors and early-stage entrepreneurial companies. Its name is a blend of the Arabic words for 'minds' and 'money.' The organization positions entrepreneurs as the engine of economic growth and investors as the fuel, providing a marketplace for viable investment partnerships. It supports the development of Saudi Arabia's venture and entrepreneurship sector in line with broader economic ambitions, offering membership programs for angel investors, opportunity evaluation stages, acceptance criteria for startups, and training. It emphasizes community welfare and quality of life through economically sound investments.
Source: firm website, verified Sep 26, 2026.
Founder mafia
2 people who came through Oqal went on to found or lead other companies.
What they invest in
from 3 of 4 portfolio companiesFintech ×2Logistics & Supply Chain ×2Consumer ×1FoodTech ×1Marketplaces ×1Mobility & Transportation ×1
HQs:Saudi Arabia×2United Arab Emirates×1
Investments · 4 tracked
founders shown can be your intro path
Careem operates an "everything app" for the greater Middle East, offering ride-hailing, food and grocery delivery, and payments to consumers across the region.
ConsumerFintechLogistics & Supply ChainMobility & TransportationDubai, AE
Karl Magnus Olsson(Founder)inAbdulla Elyas(Founder)Abdullah Elyas(Founder)Magnus Olsson(Founder)Mudassir Sheikha(Founder)
Co-investorsArzan VCBling CapitalCedar Mundi VenturesCoatue ManagementCOTU VenturesDCM Ventures+9 more
HungerStation is an on-demand delivery app offering food from over 65,000 restaurants along with groceries, pharmacy products, flowers, and daily essentials delivered to customers' doors.
FoodTechLogistics & Supply ChainMarketplaces
Nqoodlet is a Saudi Arabian fintech company providing expense management software and corporate cards for small and medium-sized businesses.
Fintech
Mohamed Milyani
Co-investors500 GlobalWaad Investment
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
Clara
Frequently asked questions
- What stage does Oqal invest at?
- Oqal invests at the Pre-Seed, Seed stages.
- What sectors does Oqal focus on?
- Oqal focuses on Consumer, E-commerce, Fintech, SaaS, Sector Agnostic.
- Where is Oqal located?
- Oqal is headquartered in Riyadh, SA.
- Who does Oqal co-invest with?
- Oqal most often shares deals with Coatue Management, DCM Ventures, Lumia Capital, among 10 tracked co-investors.
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