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Pinnacle Capital, the Saudi investment firm, has launched a venture capital fund targeting growth-stage technology companies in the Kingdom through primary funding rounds and secondary transactions.
The closed-ended fund will invest in established private companies and buy stakes from existing shareholders, adding another source of liquidity in a market where secondary transactions remain relatively uncommon and IPOs or trade sales are still the main routes to an exit.
The strategy comes as Saudi produces a larger pool of later-stage technology companies, including profitable businesses, while the availability of growth capital and secondary liquidity has developed more slowly.
The fund will focus on four areas: fintech; businesses linked to Riyadh’s expansion, including housing, mobility, real estate and urban services; e-commerce; and health and lifestyle.
In fintech, Pinnacle is targeting businesses benefiting from regulatory changes and the adoption of digital financial services. It also sees further room for growth in e-commerce, where penetration remains below more developed markets, and in preventative healthcare and lifestyle services.
Founded in 2021, Pinnacle is licensed by Saudi Arabia’s Capital Market Authority and operates across alternative investment management and arranging services as part of the Watar Partners network.
The firm is led by chief executive Abdulwahab AlBetairi, co-founder and managing partner of Watar Partners, which advises families on establishing and managing private investment offices. AlBetairi has more than 18 years of experience across banking, asset management and private investments, including at Saudi American Bank and Bahrain-based multi-family office The Family Office.
Pinnacle’s partners also include Moayed Almoayed, a co-founder and board member of Bahrain-born food-tech company Calo.
The firm led Tarabut Gateway’s $32M Series A in 2023 alongside Visa, Tiger Global and Aljazira Capital, and also invested in Gathern, the Saudi holiday-home rental platform that raised a $72M Series B in 2025.
Pinnacle also points to its partners’ involvement in taking Jahez, the Saudi food delivery company, through its public listing.
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